Regulations Governing the Financing of Commercial Sales of Agricultural Commodities

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The Foreign Agricultural Service (FAS) proposes to amend the regulations applicable to the financing of the sale and exportation of agricultural commodities pursuant to title I of the Agricultural Trade Development and Assistance Act of 1954, as amended (Pub. L. 480). The proposed amendments would delete one document from the list of those documents currently required to be submitted by the commodity supplier to the banking institution to support a request for payment; and would delete the contracting and documentary requirements for commodities which have not been shipped under the program for a number of years. The purpose of these changes is to reduce the paperwork burden on commodity suppliers and to simplify and shorten the regulations.