Insurance to Cover Political and Commercial Risks for New Small Business Exporters

This policy is designed to assist new exporters. Businesses classified by the SBA as small businesses are offered repayment protection for short-term export credit sales. Political risk (war, revolution, etc.) is covered at 100%. Commercial risk that may lead to a default by the buyer is covered at 95%. This policy insures sales by U.S. Corporations, partnerships, individuals, foreign corporations doing business in the U.S., and foreign sales corporations controlled by U.S. corporations. Premiums vary with the terms of the sale and the type of buyer. The exporter must pay a refundable advance premium of $500. The policy is renewable each year. Contact Export-Import Bank of the United States (EXIM), Wayne Gardella, Manager, 811 Vermont Ave., N.W., Washington, DC 20571; 800-565-3976 x3787; Fax: 202-565-3380; {}; {}.

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