Letters of Credit

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Available to

U.S. entities and Non U.S. domicile outside or inside U.S.

Exports Supported

Consumables, raw materials, spare parts, bulk agricultural commodities, low cost capital goods, consumer durables, services performed by U.S. personnel.

Program Description

One-year policy (renewable) insuring commercial banks against loss on irrevocable letters of credit issued by foreign banks

Best used by

Private corporations with operations in the U.S or out site of U.S.

Coverage and Terms

  • Equalize coverage for political and commercial risks on letter of credit:
  • 100% protection for sovereign banks
  • 95% protection for all other banks (98% for bulk agricultural sales)
  • Interest covered up to prime rate minus 0.5%
  • Maximum terms: 180 days (360 days for bulk agricultural commodities, fertilizer, consumer durables, and capital equipment).

 

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