| EXPRESS INSURANCE |
SMALL BUSINESS MULTI-BUYER (ENB) |
STANDARD MULTI-BUYER (ESC) |
MULTI-BUYER SELECT RISK (MBSR) | |
|---|---|---|---|---|
| Target Market | Small businesses new to exporting* with < or equal to $10,000,000 export credit sales and 10 or less buyers. Must have no more than five years of export credit experience. Graduation to single buyer or other multi-buyer policy required at 3rd year renewal. | Small business* with < or equal to $10,000,000 export credit sales | Experienced U.S. companies | Experienced U.S. companies with at least 50% of TOTAL eligible export credit sales*** |
| Base Coverage | 95%. Not all buyers must be covered | 95% | 95% | 95% |
| Discretionary Credit Limits | None. EXIM reviews buyers under Special Buyer Credit Limit applications | Yes, amount based on U.S. company’s experience | Yes, larger amounts offered for highly experienced exporters | Yes, amounts based on exporter’s experience and spread of risk |
| Deductible | None | None | Yes, amounts based on exporter’s experience and spread of risk | Yes, amounts based on exporter’s experience and spread of risk |
| Premium Rate per $100 (for private sector buyers)** |
Same rates for any country risk. Based on payment terms offered to buyers: 1-60 days: $0.65 61-120 days: $1.06 121-180 days: $1.35 |
Same rates for any country risk. Based on payment terms offered to buyers: 1-60 days: $0.55 61-120 days: $0.90 121-180 days: $1.15 |
Portfolio tailored rate with discounts for low risk country concentration and many buyers | Portfolio tailored rate |
| Report Shipments | Monthly | Monthly | Monthly | Monthly |
| Period Covered | 12 months; Renewable | 12 months; Renewable | 12 months; Renewable | 12 months; Renewable |
| Claim Filing | 90-240 days after due date | 90-240 days after due date | 90-240 days after due date | 90-240 days after due date |
| Policy Issuance Fee | Minimum $500; Refundable | Minimum $500; Refundable | Minimum $500; Refundable | Minimum $500; Refundable |
| Foreign Buyer Credit Information | Amounts above $100,000 may require additional information | Exporter must provide to EXIM | Exporter must provide to EXIM | Exporter must provide to EXIM |
*For businesses that meet the Small Business Administration (SBA) definition and whose three-year annual average of export credit sales are not more than $10 million (excluding sales to Canada and secure payment terms
such as cash, letter of credit, or sight drafts). Environmental small business policyholders are exempt from the $10 million “exit threshold.”
**Different rates apply for letter of credit and sovereign buyers.
***EXIM may be able to offer flexibility on portfolios that do not meet the 50 percent threshold requirement, as long as the remaining spread of risk is reasonable.