When shipping on letter of credit, all terms specified on the letter of credit must be strictly observed. If the terms are no followed, the letter of credit may not be honored by the bank. As a member of the G-7, Italy as a market for U.S. exporters does not warrant any special USG credit assistance. The network of Italian banks with branches in the U.S. will offer limited export credit assistance. The EXIM bank and FCIA consider Italy a low political risk country.
Several programs exist to help finance exports.
Eximbank can provide loans directly to foreign buyers, provide U.S. suppliers and their banks with credit risk protection, or originate direct financing. Eximbank has regional offices located in New York, Chicago, Houston, Miami, and Los Angeles. The FCIA acts in conjunction with, and as an agent for, Eximbank to cover export sale repayment losses due to political or commercial causes. Programs include political risk insurance, special insurance coverage for natural resource projects, leasing, and contractor's risks. A large number of Italian banks have correspondence relationships with U.S. banks.