I'm looking
for help...
Aidpage is free!
   

Free downloads: GrantGate®  Federal Money Retriever®

Foreign Investment Insurance

Published on AidPage by IDILOGIC on Jun 24, 2005

Administered by:

US Federal Government Agency (see all agencies)
Overseas Private Investment Corporation
CFDA #: 70.003

Deadlines and process...

Deadlines

Registration must be made prior to making an irrevocable commitment to invest. The registration remains active at OPIC for 2 years.

Note: When available, this section indicates the deadlines for applications to the funding agency which will be stated in terms of the date(s) or between what dates the application should be received. When not available, applicants should contact the funding agency for deadline information.

Range of Approval/Disapproval Time

Will vary depending on size and complexity of project.

Preapplication Coordination

Registration letter. This program is excluded from coverage under E.O. 12372.

Note: This section indicates whether any prior coordination or approval is required with governmental or nongovernmental units prior to the submission of a formal application to the federal funding agency.

Appeals

Not applicable.

Note: In some cases, there are no provisions for appeal. Where applicable, this section discusses appeal procedures or allowable rework time for resubmission of applications to be processed by the funding agency. Appeal procedures vary with individual programs and are either listed in this section or applicants are referred to appeal procedures documented in the relevant Code of Federal Regulations (CFR).

Renewals

OPIC insurance contracts can be offered at fixed rates for up to 20 years. Investor has the opportunity to change insurance elections annually or semi-annually. Policies are non-cancelable by OPIC, provided that investor is paying premiums and is not in material breach of the contract.

Note: In some instances, renewal procedures may be the same as for the application procedure, e.g., for projects of a non-continuing nature renewals will be treated as new, competing applications; for projects of an ongoing nature, renewals may be given annually.