ANNOUNCEMENT 01 Jun 2020

In June 2020, the Export-Import Bank (EXIM) approved export credit insurance to Unical Aviation, Inc..

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

USAspending.gov. Award profile. Summary.
https://www.usaspending.gov/award/ASST_NON_09110296ST1014_8300

EXIM Bank of the United States. Data. Authorizations From 10/01/2006 Thru 12/31/2020. :
https://data.exim.gov/dataset/Authorizations-From-10-01-2006-Thru-12-31-2020/vbhv-d8am/
deal.number = 09110296ST1014
unique_identifier = 09110296ST1014

Export-Import Bank of the United States (EXIM), Financing Solutions, Export Credit Insurance. Available at: https://www.exim.gov/what-we-do/export-credit-insurance

Inception date: 01 Jun 2020 | Removal date: open ended

Trade finance

On 1 June 2020, the Export-Import Bank of the United States (EXIM) granted export insurance coverage to Unical Aviation, Inc. The supported transaction had a total value of USD 18 million. According to the banks categories of product or services affected by the transaction, this action supported 'Transportation Equipment and Supplies (except Motor Vehicle) Merchant Wholesalers'.

EXIMs export credit insurance is an insurance policy that mitigates the nonpayment risk of businesses foreign receivables. The program also helps the businesses to expand their borrowing base and improve their cash flows. By providing open account credit terms to foreign buyers, the program increases the competitiveness of U.S. businesses.

Notably, EXIM is a fully government-owned corporation and acts as an independent executive agency. Its mission is to provide trade finance 'in cases where the private sector is unable or unwilling to provide financing or when such support is necessary to level the playing field due to financing provided by foreign governments to their exporters that compete with U.S. exporters'.

AFFECTED SECTORS

 
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AFFECTED PRODUCTS

 
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