Fact Sheet EXIM Assistance for Customers Affected by Natural Disasters

The Export-Import Bank of the United States (EXIM) has relief provisions in place for exporters and financial institutions located throughout the United States that have been declared federal disaster areas by the Federal Emergency Management Agency (FEMA). EXIM recognizes that the business interests of those exporters, particularly small businesses, and financial institutions that are located in the affected areas understandably will be secondary to more urgent personal and humanitarian concerns over the coming weeks and months. Accordingly, EXIM wants to assure our customers that we will work with you to address the problems you are facing, and will continue to face, as a result of the devastation wrought by these events. To determine if customers are located within federal disaster areas, as well as the incident dates, please go to www.FEMA.gov.

EXIM is offering the relief measures outlined below to our customers located in the described area for an initial period of 180 days (with the possibility of a further extension of the period, at EXIM’s discretion) 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. For customers within a declared federal disaster area, please reach out to one of the EXIM program representatives listed below for further assistance.

EXIM Disaster Relief measures are as follows:

1. Working Capital Guarantee Program

• For loan facilities that mature between the start date of the incident period of the declared disaster, as defined by FEMA, up to 180 days from such start date, an, automatic extension of the loan facility for up to 180 days and an automatic extension for up to 180 days upon request to pay the related loan facility fee. In extraordinary circumstances, we would consider waiving the loan facility fee;
• 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 180 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 180 days to all claim-filing deadlines that arise between the start date (i.e. the start date of the incident period of the declared disaster, as defined by FEMA) up to 180 days from such start date; and
• Flexibility regarding the documentation necessary to file a claim.

2. Multibuyer and Single-Buyer Short-Term Insurance Program

• Automatic policy renewal for Multibuyer policies that terminate during the incident period of the declared disaster, as defined by FEMA;
• Automatic extension of Multibuyer Special Buyer Credit Limit final shipment dates of up to 180 days for all endorsed Special Buyer Credit Limits that expire during the incident period of the declared disaster, as defined by FEMA;
• Automatic extension of up to 180 days of shipment reporting and premium payment deadlines for all shipments made during the incident period of the declared disaster, as defined by FEMA;
• Automatic extension of overdue reporting requirements of up to 180 days for all overdues that would normally have required reporting during the incident period of the declared disaster, as defined by FEMA;
• Automatic extension of up to 180 days beyond the claim filing period if the claim filing deadline specified in the policy occurs during the incident period of the declared disaster, as defined by FEMA;
• Flexibility in claims analysis and the documentation necessary to file a claim; and
• Refund of advance premium if requested, on policies designated as part of the declared incident and disaster area, as defined by FEMA.

If you are a financial institution with a Letter of Credit Policy or Financial Institution Buyer Credit Policy located in the affected area, please contact us to see how we can help you ease your insurance-related obligations.

3. Medium-Term Single-Buyer Insurance Policies Issued to Exporters or Financial Institutions

• Automatic extension of up to 180 days beyond the claim filing period if the claim filing deadline specified in the policy occurs during the incident period of the declared disaster, as defined by FEMA;
• Flexibility in claims analysis with regard to disputes arising out of inability to fulfill contract requirements due to losses of inventory and shipping impediments;
• Flexibility regarding the documentation necessary to file a claim;
• Flexibility regarding policies that terminate during the incident period of the declared disaster, as defined by FEMA; and
• Flexibility with respect to shipment reporting and premium payment deadlines for all shipments made during the incident period of the declared disaster, as defined by FEMA.

If you are a financial institution located in the affected area or a policyholder/guaranteed lender financing impacted exporters, please contact us to see how we can help you to ease your insurance- or guarantee-related obligations.

Finally, if you have encountered any shipment problems, payment difficulties, or other business interruptions caused by natural disasters that require other flexible arrangements from EXIM in addition to the ones outlined above, or should you have any questions regarding this fact sheet, we encourage you to contact the program representatives identified below.