"Our objective is to minimize cross border exposures and protect assets. We believe this promotes an efficient working relationship to meet the challenges in structuring and refining international trade risk insurance products for your company."

PRODUCTS

• Available to insure export sales, domestic sales, or both.
• These policies, through private and government insurers, are normally for short terms sales on terms up to 180 days. You can insure a portfolio of buyers or a single buyer.
• Medium term insurance programs for capital equipment sales on terms in excess of a year.
• Special programs also exist for small businesses and for financial institutions.

• Short Term Multi Buyer Policies cover a portfolio of sales, thereby offering the insurer a reasonable spread of risk. These policies, for experienced exporters, are structured with discretionary credit limit authority and deductibles.
• Short Term Single Buyer Policies are for exporters concerned with the risk of one buyer. Single sales or repetitive sales can be insured.
• Short Term Small Business Policies: Eximbank has an important program for small businesses exporting under $3 million annually. The Small Business policy provides multi-buyer coverage at set premium rates with no deductible and no minimum annual premium .
• Medium Term Insurance: Until recently Eximbank was the only market insuring sales on terms longer than one year. Private underwriters are now developing programs to insure sales on two to five year terms. Medium term insurance is often used by exporters and financial institutions to fund capital equipment and agricultural commodities overseas. Premium is normally financed, with a down payment of 15%.
• Financial Institution Policies: Financial institutions use credit insurance as an important tool for international finance. Two short term programs available to banks through Eximbank are the Bank Letter of Credit policy for insuring overseas letters of credit and the Financial Institution Buyer Credit (FIBC) policy which insures the funding of a foreign buyer.

Political Risk programs are available to protect exporters and importers against a broad range of perils associated with foreign trade investments.

• Contract Frustration - Covers losses on export contracts to Public Buyers due to political events outside the control of both the Insured (Exporter) and the Public Buyer.
• Contract Repudiation - Covers losses due to a Public Buyer's failure or refusal to perform their contract duties and responsibilites. Also covers the failure or refusal to reimburse the Insured for work performed, services rendered or pay event driven sums due under the contract.
• Embargo/Import-Export License Revocation - Covers losses resulting from export or import license cancellation, or implementation of law which prevents the export/import of goods or services and thus prevents the Insured from fulfilling their duties under the contract.
• Exchange Transfer/Currency Inconvertibility- Covers losses caused by the operation of a law, order, decree, etc. in the foreign country which prevents, restricts, or controls the full transfer of funds.
• Unfair Calling - Bonds or Standby L/C - Covers drawdown by a Public Buyer of bid or performance, guarantee, retention bonds or L/C without just cause. This covers also addresses events of call following other actions of the Insured's or Buyer's Governments, i.e. following an embargo.
• Non-Delivery of Goods - Covers losses incurred due to non-delivery of goods for political reasons. Typically, the Insured has prepaid for the goods against a promise of some future delivery date.
• War Related Covers - Covers losses due to war, hostilities, civil war, rebellion, revolution, insurrection, guerrilla activity, civil commotion or other like disturbances.
• Non-Honoring of Letter of Credit - Covers the failure of the opening bank to honor its obligations under the letter of credit.
• Political Risks Coverage also available: - Arbitrary Award Refusal, Barter/Countertrade Related Covers, Non-Ratification