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Plan A - Short Term EXIM Credit (0-180
days)
Nationwide Equipment offers short-term credit (0-180 days) through EXIM
for the purchase of new and used construction equipment to your region. In order to
begin the credit application process with Nationwide your company needs
to provide us with the following detailed documentation
Depending on amount of credit risk acceptable to Nationwide, please
provide the following:
| A) |
$0 to $100,000
|
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1 - |
Profile
of Company – Type, Current Range of Activities, Owners, Contact
Info
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2 - |
Credit
Report from EXIM approved credit agency such as Dun & Bradstreet
(Cost of Credit Report is $250 to $500 payable by applicant to
Credit Agency)
(Nationwide will provide list of approved agencies for your
country)
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| |
3 - |
One
Foreign Credit Reference
Letter of reference supplied by foreign supplier clearly stating
amount of credit previously extended, terms extended (0-180days)
and payment performance.
Past Credit extended should be comparable to present amount
requested.
Supplier information must be verifiable with contact person and
telephone.
(If Foreign Supplier not available Domestic Supplier may be
substituted) |
| B) |
$100,001 to
$300,000
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1 - |
Profile of Company
(See above)
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2 - |
Credit Report (See
above)
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3 - |
Two Foreign Credit
References (See above)
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4 - |
3 Years signed
Audited Financial Statements. Latest Management
Accounts if the Audited statements are more than 6 months old. |
After internal credit review
and confirmation of applicant’s information, Nationwide will then submit
the credit application for final approval with EXIM’s insurance
division. If approved, the applying company will have an EXIM insured
revolving credit limit with Nationwide renewable on an annual basis.
For all equipment purchases under the EXIM insured credit policy the
following conditions apply:
| A) |
Minimum cash deposit of 30% is
required on C.I.F. value of all equipment purchases.
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| B) |
Insurance fee of 8% per annum
applies on credit balance of equipment purchased.
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| C) |
Timely payment according terms
extended by Nationwide is strictly monitored by EXIM (Example 90
day terms). Failure to comply with the agreed to payment terms
will result in immediate cancellation of the credit policy and a
liability with EXIM in your country should a claim be filed by
Nationwide. |
If interested, please send complete documents immediately via courier or
fax so Nationwide can review your application. Upon review we will
advise you of the amount of credit we will apply for and then wait to
hear back from EXIM. Provided your documentation is complete you should
have a decision on your credit terms with one week.
We look forward to working together with you on a regular basis.
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