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USDA Sets GSM-102 and SCGP Rates
WASHINGTON - Jul 1/05 - SNS -- The USDA announced new guarantee fee rates to be charged for coverage under the Commodity Credit Corporation’s Export Credit Guarantee Program (GSM-102) and the Supplier Credit Guarantee Program (SCGP).
The guarantee fee on applications for payment guarantees and amendment requests received on or after July 1, 2005, 12:01 AM EDT, under these programs will be calculated using the rates detailed in this notice.
The Commodity Credit Corporation (CCC) will use a risk-based fee structure for the GSM-102 and SCGP programs. Fee rates will be based on the country risk that CCC is undertaking, as well as the repayment term (tenor) and repayment frequency (annual or semi-annual) under the guarantee.
For the GSM-102 program, country risk will be based on the country of the foreign obligor (opening bank), as determined by the CCC. For the SCGP, country risk will be based on the country of the foreign obligor (importer), as determined by the CCC.
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