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USDA ANNOUNCES AVAILABILITY OF GSM-102 CREDIT GUARANTEES FOR EXPORT SALES TO THE CENTRAL AMERICA REGION, CARIBBEAN REGION, AND MEXICO

WASHINGTON, Jan. 19, 2010 – The U.S. Department of Agriculture’s Foreign Agricultural Service (FAS) today announced availability of the following credit guarantees for sales of U.S. agricultural commodities under the Commodity Credit Corporation's Export Credit Guarantee Program (GSM-102) for fiscal year 2010.

GEOGRAPHICAL AREA AMOUNT AVAILABLE

Central America Region: $30 million (Belize, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, and Panama)

Caribbean Region: $60 million (Anguilla, Antigua and Barbuda, Aruba, Bahamas, Barbados, British Virgin Islands, Cayman Islands, Dominica, Dominican Republic, Grenada, Guadeloupe, Guyana, Haiti, Jamaica, Montserrat, Netherlands Antilles, St. Kitts and Nevis, St. Lucia, St. Vincent and the Grenadines, Suriname, and Trinidad and Tobago)

Mexico: $45 million

All terms and conditions of USDA’s Nov. 13, 2009, program announcements for the Central America Region (PR 0282-09); Caribbean Region (PR 0281-09); and Mexico (PR 0285-09) remain in effect with the exception of the following:

These guarantees are to cover sales of any of the commodities specified in the GSM list of commodities.

The latest commodity list can be obtained by accessing the FAS Web page at http://www.fas.usda.gov/excredits/gsmcommodities.html.

CCC will initially consider applications received for each geographical area under this announcement between 9:00 a.m. (Eastern Time) and 4:00 p.m. (Eastern Time) on Jan. 26, 2010. 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 for the geographical area, 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, subject to availability of coverage.

Under this announcement, sales must be registered with CCC by Sept. 30, 2010. Exporters' contractual arrangements must call for exports within 30 days of the date of registration. Extensions to the export date will only be permitted on a case by case basis and must be applied for in writing. Under current market conditions, however, CCC does not anticipate granting any extensions unless the exporter can demonstrate that circumstances beyond the exporter’s control precluded export by the final date to export on the guarantee.

The Nov. 13, 2009, USDA Press releases are available on the Foreign Agricultural Service (FAS) Web page at http://www.fas.usda.gov/excredits/exp-cred-guar.asp

POINTS OF CONTACT

For further information, contact the Registrations and Operations Branch of FAS at (202) 720-3224, or by e-mail at gsm.registrations@fas.usda.gov.

For the latest updates on FAS programs and activities, go to the FAS Web page at http://www.fas.usda.gov.

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PR 0023-10

 

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