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Export Credit Insurance

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Increase your export sales by extending credit to international customers — Level the playing field!

Export Credit Insurance makes it possible for small- to-medium size businesses to extend credit to their international customers. Should a buyer in another country declare bankruptcy, or if political factors such as wars or currency inconvertibility make collecting payment impossible, Export Credit Insurance covers up to 95% of the loss.

 

Unlike multinational corporations with worldwide presence, smaller businesses normally have little recourse when a customer in another country defaults. Export Credit Insurance levels the playing field, unlocking global opportunities that can increase your sales while protecting your bottom line. As an added bonus, Export Credit Insurance increases your borrowing power by allowing you to use insured receivables as collateral.

 

DB Schenker is a licensed, EXIM-approved insurance broker with over 140 years experience in international shipping. We help ease the burden of credit risk management, allowing you to focus on growing your business!

 

Request an Export Credit Insurance quote today!

 

 

Express Insurance Small Business Multi-Buyer Standard Multi-Buyer Single-Buyer
Target Market Small businesses new to exporting* with <$7,500,000 export credit sales and 10 or less buyers. Must have no more than five years of export credit experience Small business exporters* with <$7,500,000 export credit sales Experienced exporters Any exporter desiring to insure only one buyer
Base Coverage 95%. Not all accounts must be covered 95% 95% 90%
Discretionary Credit Limits None. EXIM approves all buyers Yes. Amount based on exporter’s experience Larger amounts for most experienced exporters None. EXIM approves the one buyer
Deductible None None Yes, amount based on exporter’s risk portfolio and experience None
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 Premium rates vary according to country of the Buyer and length of payment terms
Report Shipments Monthly Monthly Monthly Monthly
Period Covered 12 months; Renewable 12 months; Renewable 12 months; Renewable 12 months
Claim Filing 3–8 months after due date 3–8 months after due date 3–8 months after due date 3–8 months after due date
Policy Issuance Fee $500; Refundable $500; Refundable Minimum $500; Refundable Minimum $500 for first policy; waived for renewals and repeat small business customers. Refundable if premium paid during the first year exceeds the fee
Foreign Buyer Credit Information Does not have to be provided by the exporter Exporter must provide to EXIM Exporter must provide to EXIM Exporter must provide to EXIM
Benefits of Export Credit Insurance:
  • Risk reduction: safeguard against catastrophic losses from buyer non-payment.
  • Increased competitiveness: expand into new markets and boost sales with existing customers by offering credit
  • Improved liquidity: borrow against foreign receivables to accelerate cash flow
The DB Schenker Trade Solutions Advantage:

Abbreviations

EXIM
Export-Import Bank of the United States

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