Rolnictwo i rynki · 15.08.1997

Expanding Export Transactions for CCC Payment Guarantees

CCC requests comments on two options to modify the regulations found at 7 CFR part 1493, subpart B, governing CCC's Export Credit Guarantee Program (GSM-102) and Intermediate Export Credit Guarantee Program (GSM-103). One option would permit CCC to guarantee payments pursuant to sight letters of credit issued by eligible foreign banks, which letters of credit would not include deferred payment terms. The other option would permit CCC to guarantee payment of obligations of eligible foreign banks arising out of transactions not involving an export letter of credit. For example, such obligations could be created by foreign banks providing guarantees of obligations of foreign buyers, including, for example, drafts drawn on and accepted by such buyers. CCC also welcomes and will consider comments or recommendations regarding other approaches to increasing the flexibility of these programs.