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December 5, 2003
USDA OFFERS SUPPLIER CREDIT GUARANTEES FOR EXPORT SALES TO SOUTHEAST BALKANS REGION FOR FISCAL 2004
The U.S. Department of Agriculture has authorized $75 million in supplier credit guarantees for sales of U.S. agricultural commodities to the Southeast Balkans Region under the Commodity Credit Corporation's Supplier Credit Guarantee Program (SCGP) for fiscal year 2004. The Southeast Balkans Region includes Romania and Bulgaria.
Exporters may apply for credit guarantees on a first-come, first-served basis to cover sales of any of the commodities specified in the GSM list of commodities published in Foreign Agricultural Service program announcement PR 0346-02 issued Sept. 24, 2002, or as superseded. The latest commodity list can be obtained by accessing the FAS home page. The allocation does not assign dollar amounts to any of the commodities specified in the GSM list of commodities, providing buyers and sellers maximum flexibility in arranging the size of their transactions within the scope of the overall allocation.
Coverage up to 65 percent of the principal is offered on credit terms from 15 to 180 days.
Sales must be registered with CCC by Sept. 30, 2004, and exporters' contractual arrangements must call for exports no later than Nov. 30, 2004.
The importer is required to use one or the other of two standard promissory note forms as evidence of its obligation to pay for the U.S. agricultural commodities exported under the SCGP. These two forms, and the instructions for completing them, are available on the Web at http://www.fas.usda.gov/excredits/scgp.html at the listing for Standard Promissory Note Forms.
CONTACT INFORMATION:
FAS news releases are available on the Internet at http://www.fas.usda.gov/ and by fax.
For additional information, contact Cristina Cionga or Monica Dobrescu at FAS Bucharest, phone 40 21 210.40.42, fax 40 21 210.59.98, agbucharest@usda.gov
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