Export-Import Bank of the U.S. Application for Issuing Bank Credit Limit (IBCL) Under Bank Letter of Credit Policy

OMB 3048-0016

OMB 3048-0016

This collection of information is to enable an insured exporter or lender (or broker acting on its behalf) to obtain approval for coverage of the repayment risk of an overseas bank. The information received allows EXIM Bank staff to make a determination of the creditworthiness of the foreign bank and the underlying export sale for EXIM Bank assistance under its programs. This form has been updated to include a new Certification and Notices section as well as a new statement explaining EXIM Bank's limitation on support for goods subject to trade measures or sanctions. The Export-Import Bank has made a change to the report to have the insured financial institution provide the industry code (NAICS) associated with each specific export as well as specific information needed to make a determination as to whether or not the exporter meets the SBA's definition of a small business. The insured financial institution already provides a short description of the goods and/or services being exported and the name and address of the exporter. These additional pieces of information will allow Ex-Im Bank to better track what exports it is covering with its insurance policy and the extent to which its support assists U.S. small businesses. The other change that EXIM Bank has made is to require the insured financial institution to indicate whether the exporter is a minority-owned business, women-owned business and/or veteran-owned business. Although answers to the question are mandatory, the company may choose any one of the three answers: Yes/No/Decline to Answer. The option of "Decline to Answer" allows a company to consciously decline to answer the specific question should they not wish to answer.

The latest form for Export-Import Bank of the U.S. Application for Issuing Bank Credit Limit (IBCL) Under Bank Letter of Credit Policy expires 2022-05-31 and can be found here.


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