WASHINGTON, June 22, 2000–The Commodity Credit
Corporation is revising its policy regarding the acceptance of
facsimile copies of cashiers or certified checks as evidence of
the issuance of performance securities for the Export Enhancement
Program (EEP) and the Dairy Export Incentive Program (DEIP).
As of July 1, 2000, CCC will no longer accept facsimile copies
of cashiers or certified checks as evidence of performance
security requirements under the EEP and DEIP . The original check
to establish the required performance security must be received
by CCC prior to reviewing an offer for a bonus. Offers received
by CCC that do not have the required performance securities will
not be considered.
In accordance with 7 CFR Part 1494, subpart B and subpart D,
section 1494.1200, under section 1494.401(a) of subpart B,
eligible exporters must, prior to submission of an offer to CCC,
establish a performance security in a form acceptable to CCC.
With this policy change, CCC will ensure that required
performance securities are posted and in effect before offers are
considered. For further information, call the Contract and
Registration Branch, Operations Division, Export Credits, FAS,
USDA, at (202) 720-3224.