EXIM Bank ELC & ESS Fee Calculator

#1. Discretionary Credit Limits under Short Term Insurance Policies are withdrawn. Cover not available unless specified in a Special Buyer Credit Limit endorsement, an Issuing Bank Credit Limit endorsement, or a Country Limit of Liability endorsement.

#2. For sovereign transactions in the People's Republic of China ("China"), EXIM will typically require an indication of Chinese government support through the Ministry of Finance of China. For public sector non-sovereign and private sector transactions under short-, medium-, and long-term programs, EXIM will consider transactions with financial institutions or other entities that are able to provide detailed financial/credit information sufficient to enable EXIM to reach a credit conclusion.
 
Under the Short-Term Multi-Buyer Insurance Program, the use of Discretionary Credit Limit Authority is permitted, in accordance with policy requirements.
 
Coverage under the Working Capital Guarantee Program (WCGP) requires that the transaction be supported by an irrevocable Letter of Credit issued by a bank acceptable to EXIM. Exceptions may be made by EXIM for private sector transactions that are insured for political only risk or comprehensive (political and commercial) risk.

#3. Prior to accepting an application for a preliminary or final commitment for a public sector transaction, or for any insurance or WCGP coverage for a public sector transaction, EXIM will require an indication of host government support for the application from an appropriate government authority such as the Ministry of Finance or the Central Bank. Contact EXIM for more detailed information on specific markets.

#4. EXIM cover/support for private sector transactions is typically limited to transactions with a commercial bank as obligor or guarantor. EXIM will consider transactions without a bank undertaking on a case-by-case basis. Regarding the latter, EXIM may consider corporate entities that are able to provide detailed financial information sufficient to enable EXIM to reach a credit conclusion. Such information should include financial statements audited by an affiliate of an international accounting firm and prepared in accordance with International Financial Reporting Standards (IFRS), and the statements should reflect historical material bank borrowings. As conditions pursuant to which we may consider non-bank transactions vary in markets subject to this note, please contact the Credit Policy Division for further information
 
Under the Short-Term Multi-Buyer Insurance Program, a commercial bank obligor or guarantor is not required for transactions qualified under Discretionary Credit Limit Authority, in accordance with policy requirements. Under Special Buyer Credit Limit applications and Short-Term Single Buyer policies (ESS, FB, FV) requirement of a commercial bank obligor or guarantor will be evaluated on a case-by-case basis.
 
Coverage under the WCGP requires that the transaction be supported by an irrevocable Letter of Credit issued by a bank acceptable to EXIM. Exceptions may be made by EXIM for private sector transactions that are insured for political only risk or comprehensive (political and commercial) risk.

#5. EXIM cover/support for public sector transactions is typically limited to transactions which commit the full faith and credit of the government (a sovereign obligation or guarantee).

Under the Short-Term Multi-Buyer Insurance Program, a sovereign obligor or guarantor is not required for transactions qualified under Discretionary Credit Limit Authority, in accordance with policy requirements. Under Special Buyer Credit Limit applications and Short-Term Single Buyer policies (ESS, FB, FV), requirement of a sovereign obligor or guarantor will be evaluated on a case-by-case basis.

#6. Under the Short-Term Multi-Buyer Insurance Program, coverage under Discretionary Credit Limits and a Country Limits of Liability (for Political Risk Only policies) shall be the lesser of the limits authorized in the policy or:

   a. $50,000

   b. $100,000

Higher limits will be considered upon application for a Special Buyer Credit Limit endorsement, an Issuing Bank Credit Limit endorsement, or Country Limits of Liability endorsement (for Political Risk Only policies).

For more information, please visit EXIM's Website at www.exim.gov or call 1-800-565-EXIM.

#7. Support legally prohibited.

#8. Public sector transactions in Sharjah, Fujairah, Ras Al-Khaimah, Umm Al-Qaywayn, and Ajman require the guarantee of the federal government of the United Arab Emirates. Coverage under the WCGP for public sector transactions for the above may be considered if supported by an irrevocable Letter of Credit. 

#9. Sovereign transactions with total term in excess of one (1) year require the Government of Aruba as the borrower. For the WCGP, a transaction may also be considered eligible if it is supported by an irrevocable Letter of Credit.

#10. Medium- and long-term public sector transactions are subject to Ministry of Finance notification to EXIM that the transaction is of the highest priority and would conform with IMF and World Bank program limits on non-concessional debt.

#11a. Public sector risk cover is available under the short-term multi-buyer and short-term single buyer insurance programs. Discretionary Credit Limits are withdrawn. Transaction structure and additional information requirements will be determined on a case-by-case basis. Public sector risk cover is also available under the WCGP, provided that the transaction is insured by an insurer acceptable to EXIM or is supported by an irrevocable letter of credit or bank guarantee acceptable to EXIM.

#11b. Private sector risk cover is available under the short-term multi-buyer and short-term single buyer insurance programs. Discretionary Credit Limits are withdrawn. Transaction structure and additional information requirements will be determined on a case-by-case basis. Private sector risk cover is also available under the WCGP, provided that the transaction is insured by an insurer acceptable to EXIM or is supported by an irrevocable letter of credit or bank guarantee acceptable to EXIM.

#12a. As a result of existing conditions in this market, EXIM is currently not processing applications in the public sector. Coverage under the WCGP for public sector transactions is currently not available.

#12b. As a result of existing conditions in this market, EXIM is currently not processing applications in the private sector. Coverage under the WCGP for private sector transactions is currently not available.

#13. Where the CLS indicates support is not available, EXIM can still consider financing arrangements that eliminate or externalize country risks. Potentially acceptable transactions include structured transactions that earn revenues offshore in a country with no CLS restrictions and are held in a bank or trust account acceptable to EXIM; third-party support from creditworthy entities in countries with no CLS restriction; and asset-backed lease and financing structures involving equipment such as aircraft.

Discretionary Credit Limits under Multi-Buyer Insurance policies are withdrawn where the Country Limitation Schedule indicates support is unavailable for short-term private and/or public sector obligors. Potential transactions involving financing arrangements that eliminate or externalize country risk may only be considered under a Special Buyer Credit Limit application.

In addition, coverage under the WCGP may be available for a transaction that is supported by an irrevocable Letter of Credit issued by a bank, and/or due from a Buyer, located in a country where EXIM is open without restrictions for short-term transactions.

#14. For private sector transactions, EXIM will consider transactions with financial institutions or other entities that are able to provide detailed financial information sufficient to enable EXIM to reach a credit conclusion. Financial statements provided in support of the transaction should be audited by an affiliate of an international accounting firm and prepared in accordance with International Financial Reporting Standards (IFRS), and the statements should reflect historical material bank borrowings.

Under the Short-Term Multi-Buyer Insurance Program, a commercial bank obligor or guarantor is not required for transactions qualified under Discretionary Credit Limit Authority, in accordance with policy requirements. Under Special Buyer Credit Limit applications and Short-Term Single Buyer policies (ESS, FB, FV) requirement of a commercial bank obligor or guarantor will be evaluated on a case-by-case basis.

Coverage under the WCGP requires that the transaction be supported by an irrevocable Letter of Credit issued by a bank acceptable to EXIM. Exceptions may be made by EXIM for private sector transactions that are insured for political-only risk or comprehensive (political and commercial) risk.

#15a. Public sector long-term risk cover is available on a limited basis in this market. Transaction structure and additional information requirements will be determined on a case-by-case basis.

#15b. Private sector long-term risk cover is available on a limited basis in this market. Transaction structure and additional information requirements will be determined on a case-by-case basis.