EXIM Bank

Comparison of EXIM Short-Term Export Credit Insurance Policies

A side-by-side overview of the five principal EXIM short-term export credit insurance policy types — to help exporters, CFOs, and lenders understand the key differences and identify which option may fit their situation.

EXIM short-term export credit insurance can help eligible U.S. exporters protect foreign receivables against covered nonpayment risks — including commercial risks such as buyer insolvency or protracted default, and political risks such as currency transfer restrictions or government actions that prevent payment.

EXIM offers several short-term policy types, each designed for a different exporter profile. The comparison below summarizes the principal differences across the five main policy types. It is a simplified overview; EXIM eligibility requirements, U.S.-content rules, country limitations, buyer underwriting, policy wording, endorsements, and other requirements apply to all programs.

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Feature	Express Insurance	Small Business Multi-Buyer	Standard Multi-Buyer	Multi-Buyer Select Risk	Single-Buyer Insurance
Best fit / target market	SBA-defined small businesses relatively new to exporting; selected buyers insured; EXIM reviews and approves buyers through its buyer-credit process.	SBA-defined small businesses that want to insure an international receivables portfolio.	Experienced exporters of different sizes that want broad portfolio coverage.	Experienced exporters that want flexibility to exclude selected lower-risk transactions, subject to EXIM requirements.	An eligible U.S. exporter that wants to insure one foreign buyer instead of an entire portfolio.
Portfolio approach	Selected buyers; not a whole-turnover portfolio policy.	Whole-turnover portfolio; generally covers all eligible foreign receivables.	Whole-turnover portfolio; generally covers all eligible foreign receivables.	Portfolio with option to exclude selected lower-risk buyers, subject to EXIM requirements.	Single buyer; not a portfolio policy.
Base coverage for private buyers	95% commercial; 95% political.	95% commercial; 95% political.	90% commercial; 95% political.	90% commercial; 95% political.	90–95% commercial (varies); 95% political.
Sovereign / special coverage	100% sovereign/public buyer coverage available.	100% sovereign/public buyer coverage available.	100% sovereign/public buyer coverage available.	100% sovereign/public buyer coverage available.	100% sovereign/public buyer coverage available.
Buyer credit limits	EXIM establishes credit limits through its buyer-credit process; exporter submits buyer information for EXIM review.	Exporter may use its own credit judgment for buyers up to a discretionary credit limit; larger buyers may require EXIM approval.	Exporter may use its own credit judgment for buyers up to a discretionary credit limit; larger buyers may require EXIM approval.	Exporter may use its own credit judgment for buyers up to a discretionary credit limit; larger buyers may require EXIM approval.	EXIM establishes the credit limit for the single covered buyer.
First-loss deductible	No first-loss deductible.	No first-loss deductible.	First-loss deductible applies; amount varies.	First-loss deductible applies; amount varies.	No first-loss deductible (varies by policy).
Typical policy period	One year.	One year.	One year.	One year.	Transaction-specific; may be less than one year.
Premium approach	Premium based on insured shipments; reported and paid periodically.	Premium based on insured shipments; reported and paid periodically.	Premium based on insured shipments; reported and paid periodically.	Premium based on insured shipments; reported and paid periodically.	Premium determined at policy issuance based on transaction terms.
Shipment reporting	Periodic reporting of insured shipments required.	Periodic reporting of insured shipments required.	Periodic reporting of insured shipments required.	Periodic reporting of insured shipments required.	Reporting requirements determined at policy issuance.
Claim filing	Claim may be filed after applicable waiting period following nonpayment; EXIM requirements apply.	Claim may be filed after applicable waiting period following nonpayment; EXIM requirements apply.	Claim may be filed after applicable waiting period following nonpayment; EXIM requirements apply.	Claim may be filed after applicable waiting period following nonpayment; EXIM requirements apply.	Claim may be filed after applicable waiting period following nonpayment; EXIM requirements apply.
Policy issuance / advance deposit	Advance deposit may be required at policy issuance.	Advance deposit may be required at policy issuance.	Advance deposit may be required at policy issuance.	Advance deposit may be required at policy issuance.	Premium generally paid at or before policy issuance.
Foreign buyer credit information	EXIM reviews buyer credit information as part of its buyer-credit process.	Exporter provides buyer credit information; EXIM may require additional information for larger buyers.	Exporter provides buyer credit information; EXIM may require additional information for larger buyers.	Exporter provides buyer credit information; EXIM may require additional information for larger buyers.	EXIM reviews buyer credit information as part of its underwriting process.
Financing use	Insured receivables may be assigned to a lender; lender requirements apply.	Insured receivables may be assigned to a lender; lender requirements apply.	Insured receivables may be assigned to a lender; lender requirements apply.	Insured receivables may be assigned to a lender; lender requirements apply.	Insured receivables may be assigned to a lender; lender requirements apply.

Tap a policy to expand its details.

Important Notes

This comparison is a simplified overview of principal short-term policy differences. EXIM eligibility, U.S.-content rules, country limitations, buyer underwriting, policy wording, endorsements, and other requirements apply to all programs. Policy terms, underwriting requirements, and availability may vary.

Coverage percentages, deductibles, discretionary credit limits, and other terms shown are general descriptions and may differ based on the specific policy, endorsements, and EXIM underwriting. Consult with a qualified EXIM broker for information applicable to your specific situation.

How J. Maxime Roy, Inc. Can Help

Evaluating EXIM Policy Options

J. Maxime Roy, Inc. is an EXIM Platinum Tier Broker. We work with exporters and lenders to evaluate EXIM policy options, understand buyer-credit requirements, assess receivables financing considerations, and explore appropriate export credit insurance structures.

Whether you are new to EXIM or looking to optimize an existing program, we can help you identify the policy type that may best fit your export sales profile and financing needs.

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Related Resources

EXIM Export Credit Insurance Overview Trade Credit Insurance Resources & Insights