GSM-102 Credit Guarantees To Turkey
The U.S. Department of Agriculture announces the availability of the following credit guarantees for sales of U.S. agricultural commodities under the Commodity Credit Corportation's (CCC) Export Credit Guarantee Program (GSM-102) for fiscal year 2015.
Amount Available: $300,000,000
Geographical Area: Republic of Turkey (Turkey)
APPLICATIONS FOR COVERAGE
CCC will initially consider applications under this announcement received between 9 a.m. (Eastern Time) and 4 p.m. (Eastern Time) on November 5, 2014. All applications received by CCC within these times will be considered as having been received at the same time. Therefore, exporters should submit only one copy of each application. If the total dollar amount of the applications received within the time frame specified above exceeds the total dollar amount of the announced allocations, CCC will determine the distribution of the announced allocation. Applications received after the ending date and time specified in this announcement will be considered on a first-come, first-serve basis.
TERMS OF COVERAGE
Coverage is available to cover sales of any of the commodities specified in the GSM Eligible Commodities list.
Exporters’ contractual arrangements must call for exports no later than 90 days from the date of registration or Nov. 30, 2015, whichever date is earlier.
ELIGIBLE BANKS IN THE REPUBLIC OF TURKEY
Any bank approved by CCC for this country is eligible. For a complete list of eligible banks, refer to the CCC “GSM Program Foreign Bank Obligors” page. Exporters are advised to obtain from their foreign buyer the name of the CCC‑approved foreign bank that will be opening the letter of credit.
For a list of all general terms applicable to GSM-102 program announcements, please click here.