By Ken Click, Business Development Specialist & Jennifer Krause, Broker Account Manager, Office of Small Business Feb 2, 2021 10:00:00 AM
EXIM provides an outline of what is needed to apply for new and/or to renew export accounts receivable insurance; however, EXIM underwriters sometimes request more information of U.S. exporters to make its application decisions. This type of information can often be found in a Foreign Accounts Receivable Aging Report and a Customer Sales History Report (also known as a 12-month ledger detail). Each report serves a different purpose and they are often requested together.
The Foreign Accounts Receivable Aging Report shows how much a U.S. exporter’s foreign buyer(s) owe them in total. This report helps EXIM underwriters gauge where the foreign buyer is in relation to their overall credit limit. Second, it shows how these receivables are based by age from the due date, such as 1-30 days past due, 31-60 days past due, and so on. The U.S. exporter or EXIM underwriter may decide to restrict credit depending upon how past due a foreign buyer is at the time they are placing a new order from the U.S. exporter.