Notice to Program Participants Regarding Application Requirements for Export Credit Guarantee Programs

WASHINGTON, July 18, 1996 -- This Notice replaces Notice Number GSM FY 94-2, dated August 1, 1994, to include in its scope the Supplier Credit Guarantee Program (SCGP).

Christopher E. Goldthwait, general sales manager of the U.S. Department of Agriculture's Foreign Agricultural Service today announced that exporters will be required to supply certain additional information when submitting the Report of Export for the Commodity Credit Corporation's Export Credit Guarantee Program (GSM-102), Intermediate Credit Guarantee Program (GSM-103), and SCGP, in order to assure accurate export reporting under these program. This notice is issued in accordance with 7 C.F.R. 1493.20 (u) and 1493.60 (c) for GSM-102/103 and 1493.410 (u), and 1493.450 (c) for SCGP. This Notice is effective as of today's date, except for the SCGP, in which case this Notice is effective on August 30, 1996.

In addition to the information now required under 7 C.F.R. 1493.80(a) for GSM-102/103 and 1493.470(a) for SCGP, the following additional information must be included in the Report of Export:

  • Each report under a given payment guarantee must be numbered in chronological order of submission (e.g. Report 1, Report 2, etc.).
  • A statement on the final Report of Export stating "exports under the payment guarantee have been completed.
  • A statement on the final Report of Export summarizing the total quantity and value of the commodity exported under the payment guarantee (i.e. the cumulative totals on all numbered Reports of Exports).

If at any time the exporter determines that no shipments are to be made under a payment guarantee, the exporter should notify CCC by furnishing the payment guarantee number and stating "no exports will be made under the payment guarantee."

This additional information will serve a two-fold purpose: it will facilitate CCC's handling of the large number of Reports of Exports and will reduce both the exporter's and CCC's time in reconciling the Reports of Exports.