Fact Sheet

Updated May 21, 2020

EXIM EXTENDS ASSISTANCE TO U.S. CUSTOMERS AND LENDERS AMID COVID-19 PANDEMIC

The Export-Import Bank of the United States (EXIM) is announcing extended relief provisions for exporters and financial institutions located throughout the United States that may have been affected by COVID-19 (coronavirus). EXIM recognizes that the business interests of exporters, particularly small businesses, and financial institutions understandably will be secondary to personal health and safety at this time. Accordingly, EXIM wants to assure our customers that we will work with you to address the problems you may face as a result of COVID-19. EXIM is extending the relief measures originally announced on March 12, 2020 and extended on April 10, 2020 as outlined below, including waivers, deadline extensions, streamlined processing, and flexibility to enable businesses and financial institutions that participate in our programs to return to their business concerns and EXIM-related obligations at an appropriate time without penalty[1].

EXIM is open for business to support America's exporters during this difficult and challenging time. We will continue to monitor the situation and offer further accommodations as circumstances warrant.
If you have encountered any shipment problems, payment difficulties, liquidity problems, or other business interruptions that require other flexible arrangements from EXIM in addition to the ones outlined above, EXIM stands ready to work with you in partnership to overcome these issues.

Please feel free to reach out to one of the EXIM program representatives listed below for further assistance. EXIM relief measures are as follows:

1. Working Capital Guarantee Program
   • Waiver of program requirements with which parties cannot reasonably comply under the circumstances, such as field exams, borrowing base certificates, financial statement reporting, and other reporting requirements;
   • Waiver of defaults for nonpayment of interest up to 60 days;
   • Waiver of provisions relating both to defaults and to replenishment of collateral for over-advances resulting from losses of inventory and/or sales;
   • Automatic extensions of up to 30 days for all claim-filing deadlines that arise from March 12, 2020 to August 31, 2020 (with further extensions considered at EXIM's discretion);
   • Flexibility regarding the documentation necessary to file a claim.
2. Multi-Buyer and Single-Buyer Short-Term Insurance Program
   • Streamlined processing of multi-buyer policy renewals that are eligible for renewal from March 12 through September 1; 
   • Streamlined processing of all exporter single buyer policy (ESS) and Special Buyer Credit Limit (SBCL) renewals that expire on or before September 1, 2020; 
   • Extension of up to 30 days for shipment reporting and premium payment deadlines for all shipments made from March 12, 2020 through August 31, 2020;
   • Extension of overdue reporting requirements for up to 30 days for all overdues that would normally have required reporting from March 12, 2020 through August 31, 2020;
   • Extension of up to 30 days beyond the claim filing period if the claim filing deadline specified in the policy occurs from March 12, 2020 through August 31, 2020; 
   • Early claim filing is available, but all other terms and conditions of the policy apply;
   • Flexibility in claims analysis and the documentation necessary to file a claim; and
   • If you are a financial institution with a Letter of Credit Policy or Financial Institution Buyer Credit Policy, please contact us if assistance is needed to address concerns regarding your insurance-related obligations. 
   • Additional information regarding extension of foreign payment due dates can be found here.
3. Medium-Term Single-Buyer Insurance Policies Issued to Exporters or Financial Institutions
   • Extension of up to 30 days beyond the claim filing period if the claim filing deadline specified in the policy occurs within 30 days from March 12, 2020, through August 31, 2020; 
   • Extension of up to 30 days for policies that expire within 60 days from March 12, 2020, through August 31, 2020; 
   • Extensions of up to 30 days of shipment reporting and premium payment deadlines for all shipments made during a 30-day period from March 12, 2020, through August 31, 2020; and
   • Flexibility in claims analysis and the documentation necessary to file a claim.

Should you have any questions regarding this fact sheet, we encourage you to contact the program representatives identified below.

[1] Our ability to offer relief measures in a particular instance will be subject to compliance with EXIM Charter requirements at the time such measures are considered. This includes, among other things, that the entity seeking relief must not (i) be in default on federal debt and (ii) appear on any of the Prohibited or Restricted Parties lists maintained by the United States government, unless granted clearance by EXIM.