Ex-Im Bank Extends Assistance Measures to U.S. Exporters in Federal Disaster Areas Affected by Hurricane Sandy
November 2, 2012
(Ex-Im Bank)
WASHINGTON, D.C. – The Export-Import Bank of the United States (Ex-Im Bank)
today announced extended provisions to assist exporters and financial
institutions located in those portions of the Mid-Atlantic and Northeast that
have been declared federal disaster areas by the Federal Emergency Management
Agency due to the impact of Hurricane Sandy.
“As the nation continues to respond and begins the long effort of recovery, the
Ex-Im Bank stands at the ready to help,” said Ex-Im Bank Chairman and President
Fred P. Hochberg. “We will do all we can to help those exporters in affected
areas--especially small businesses – get back on their feet and resume
exporting. The last thing any business owner should have to worry about after a
storm is the status of a loan or a claim-filing deadline.”
The Bank is offering administrative relief measures to allow businesses and
financial institutions that participate in Ex-Im Bank financing programs to
return to their business concerns when appropriate and without penalty. “The
Bank provided similar measures during Hurricane Katrina and believe these same
steps will help those business and banks that have suffered economic disruptions
during Sandy,” added Hochberg.
For a full list of measures, please visit www.exim.gov. In addition, a fact sheet can be viewed here:
Ex-Im Bank Clients Affected by Hurricane Sandy.
Highlights of assistance measures include:
Ex-Im Bank will offer automatic extension of loan terms and deadlines for
filing claims for up to three months for working capital loan facilities
maturing between Oct. 29, 2012, and January 31, 2013.
For working capital loan facilities, Ex-Im Bank will also waive program
requirements with which parties cannot reasonably comply for up to three
months.
Ex-Im Bank will extend to January 31, 2013 all claim-filing
deadlines arising between October 29, 2012, and January 31, 2013 for its
Multibuyer Insurance Program.
Shipment reporting and premium payment deadlines will be automatically
extended to January 31, 2013, for all shipments made during September and
October 2012.
Ex-Im Bank will provide flexibility in claims analysis and automatic policy
renewal for policies that terminate between October 29, 2012, and January 31,
2013.
Ex-Im Bank will be automatically extended, all claim-filing deadlines that
arise between October 29, 2012 and January 31, 2013, to February 1, 2013 for
Medium-Term Guarantee Program.
The Bank also offers Express Insurance and Global Credit Express programs to
expedite matters to ensure small business exporters can access international
markets in a timely manner. The Bank will continue to monitor the situation and
will determine if any of the measures need to be extended.
Financial institutions in the affected areas should contact Ex-Im Bank to see
how we can help ease insurance-related obligations. Customers encountering any
shipment problems, payment difficulties or other business interruptions caused
by Hurricane Sandy should contact: Jean Fitzgibbon for short-term multibuyer
policies (202-565-3620); Arnold Chow for other insurance policies
(202-565-3636); Pam Bowers for the Working Capital Program (202-565-3792); and
Ex-Im Bank’s Northeast Regional Office in New York City, N.Y. is currently not
open and all general inquiries and communications should go to Judith Rivera
(202-565-3417.)
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