Cost of transport, cargo insurance, and certain other charges related to the sale may be included in the gross invoice value if they are to be paid by the insured on the buyer's behalf. Currency devaluation, however, is considered to be a commercial risk. The policy lists the specific risks covered. Commercial losses are those that affect business anywhere, such as a buyer's insolvency or failure to pay an obligation within 90 days after the due date, including a failure to pay because of a currency devaluation. Among the items excluded from coverage are disputes with the buyer.
Maximum coverage is shown in the table.
In addition to the insured percentage of coverage, some other limitations should be noted. First, the shipment volume limit indicates the maximum value that may be insured under the policy and represents principal charged to the buyer. Any further shipments are not covered. Second, the claim payment limit is the maximum amount Ex-Im Bank will pay for all claims on principal amounts resulting from all insured shipments made while the policy is in effect. Ex-Im Bank will also pay the insured percentage on interest owing under the terms specified in the interest coverage endorsement.