US Ex-Im Bank has approved a US$2.3mn export credit insurance policy that will support the sale of 130 cargo trailers manufactured by Great Dane Limited Partnership of Chicago to a transportation company located in
PNC Bank of Pittsburg is the lender and insured for this transaction.
The dry cargo trailers with aluminium floors will allow Transportes Especiales of Medellin, Colombia to provide land cargo services within Colombia and the Andean Pack countries.
With an Ex-Im comprehensive medium-term export credit insurance policy, US exporters are protected from commercial and political risks. Multiple shipment coverage allows a US exporter to fill an export sales order over a period of time, while maintaining coverage for the overall sale.
On average, Ex-Im finances 85% of the US content for goods and services insurance under its export credit insurance programme. A variety of policies are available to meet the needs of US exporters or financial institutions including: short-term and multi-buyer policies. Financial institutions are more likely to discount receivables or allow them in the collateral base if they are insured. This means more working capital for businesses.