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e-CFR data is current as of July 9, 2020

Title 7Subtitle BChapter XIVSubchapter CPart 1493Subpart C → §1493.320


Title 7: Agriculture
PART 1493—CCC EXPORT CREDIT GUARANTEE PROGRAMS
Subpart C—CCC Facility Guarantee Program (FGP) Operations


§1493.320   Evidence of performance.

(a) Report of performance. The seller is required to provide CCC an evidence of performance report for each contractual event occurring under the payment guarantee. This report must include the following information:

(1) Payment guarantee number;

(2) Evidence of performance report number (e.g., Report 1, Report 2) reflecting the report's chronological order of submission under the particular payment guarantee;

(3) Date of performance;

(4) Seller's firm sales contract number;

(5) Detailed description of the contractual event. For goods, include the applicable 10-digit Harmonized System classification code and the quantity;

(6) Net contract value of the contractual event covered by the payment guarantee;

(7) Amount of initial payment corresponding to the contractual event;

(8) Description and value of discounts and allowances, if any;

(9) Value of approved local costs corresponding to the contractual event, if any;

(10) Total FGP transaction value;

(11) Guaranteed value of contractual event;

(12) The seller's statement, “All certifications set forth in §1493.330 are hereby made by the seller in this evidence of performance” which, when included in the evidence of performance by the seller, will constitute a certification that it is in compliance with all the requirements set forth in §1493.330; and

(13) In addition to all of the above information, the final evidence of performance report for the payment guarantee must include the following:

(i) The statement “All contractual events under the payment guarantee have been completed.”

(ii) A statement summarizing the total value of all contractual events covered under the payment guarantee (i.e., the cumulative totals on all numbered reports).

(b) Time limit for submission of evidence of performance. (1) The seller must provide a written report to CCC in the manner specified on the USDA Web site within 30 calendar days from the date of performance.

(2) If at any time the seller determines that no contractual events are to occur under a payment guarantee, the seller is required to notify CCC in writing no later than the final date of performance specified on the payment guarantee by furnishing the payment guarantee number and stating “No contractual events will occur under the payment guarantee.”

(3) Requests for an extension of the time limit for submitting an evidence of performance report must be submitted in writing by the seller to the Director and must include an explanation of why the extension is needed. An extension of the time limit may be granted if such extension is requested prior to the expiration of the time limit for filing and is determined by the Director to be in the best interests of CCC.

(c) Failure to comply with time limits for submission. CCC will not accept any new applications for payment guarantees from a seller under §1493.260 until the seller is fully in compliance with the requirements of §1493.320(b) for all existing payment guarantees issued to that seller or has requested and been granted an extension in accordance with §1493.320(b)(3).

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