Bush Admin amends Cotton & Export Credit programs in line with WTO ruling
06 Jul '05
2 min read
Fee rates are now 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. The new structure responds to a key finding by the WTO that the fees charged by the programs should be risk based.
In addition, the CCC no longer accepts applications for payment guarantees under GSM-103. Any remaining country and regional allocations for GSM-103 coverage under fiscal year 2005 program announcements will be reallocated to the existing GSM-102 program for that country or region.
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