Illinois Administrative Code
Title 14 - COMMERCE
Part 900 - PROGRAMS
Subpart B - PROGRAMS
Section 900.100 - General

Universal Citation: 14 IL Admin Code ยง 900.100
Current through Register Vol. 48, No. 38, September 20, 2024

The Authority will offer to participating banks two programs of guaranteed participating loans. The first program will be offered to support pre-shipment on-loans, and the second to support post-shipment on-loans. All on-loans shall be secured by a policy or policies of comprehensive export credit insurance, the proceeds of which shall have been assigned by the eligible exporter to the financial intermediary, and by the financial intermediary to the Authority, all on a form or forms the substance and content of which have been agreed to by the Authority and the insurer. Additionally, all guaranteed participating loans shall be collateralized as set forth in Section 900.115(k) of this Part, and further secured by an assignment of a general comprehensive fire, casualty, theft and cargo insurance policy or policies insuring the eligible exporter for the full amount of the eligible export, and such other insurance as the Authority deems shall be necessary based upon the type of goods or services being exported, the mode of transportation, and the country of their destination.

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