Illinois Administrative Code
Title 14 - COMMERCE
Part 900 - PROGRAMS
Subpart B - PROGRAMS
Section 900.119 - Fees
Current through Register Vol. 48, No. 12, March 22, 2024
a) In granting an on-loan, the financial intermediary may charge the eligible exporter a loan origination fee of up to the equivalent of 1% per annum of the principal amount of the on-loan. This fee shall be paid prior to, or concurrent with, the disbursement of the proceeds of the guaranteed participating loan.
b) The Authority shall charge the financial intermediary a commitment fee of 1/10 of 1% of the amount of the guaranteed participating loan. The commitment fee shall be payable on or before the 5th business day after the date of the commitment. The commitment will be valid and enforceable against the Authority only for a period of no more than 30 calendar days after the date of the commitment.
c) The Authority shall charge the financial intermediary a guarantee fee in an amount equal to the cost of any policy or policies of comprehensive export credit insurance applicable to the transaction, plus any administrative or other costs of the Authority applicable to the transaction. The guarantee fee shall be paid either prior to, or concurrent with, the disbursement of the guaranteed participating loan.
d) If the Authority requires any legal services with respect to a guaranteed participating loan, the financial intermediary shall pay all fees and costs connected therewith.
