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grain. Rates are negotiated in the same manner as with dry bulk carri

ers.

(4) "Form CCC-106" means "Advice of Vessel Approval", Form CCC-106-1 (Supplier of Commodity); Form CCC106-2 (Ocean Carrier), or Form CCC106-3 (Cotton), or any or all of them, as applicable. Colors of the original form are: Form CCC-106-1 yellow; Form CCC-106-2 blue; and Form CCC-106-3 white.

(5) "Ocean bill of lading" means an "On-Board" bill of lading, or a bill of lading with an "On-Board" endorsement, which must be dated and signed or initialled on behalf of the carrier. Documentary requirements for a copy of an ocean bill of lading refer to a nonnegotiable copy thereof.

(6) "Ocean Transportation" means and is interchangeable with the term "Ocean freight”.

(7) "Notice of Arrival" means a written notice or copy of a cablegram in accordance with § 17.9(f) reciting that the vessel has arrived at the first port of discharge.

(c) Other terms. (1) "Affiliate" and "associated company" mean any legal entity which owns or controls, or is owned or controlled by, another legal entity. For a corporation, ownership of the voting stock shall be the controlling criterion. The term "owns or controls" shall have the meaning as provided in § 17.6(j)(2).

(2) "Approved applicant" means the bank in the importing country or other agency acceptable to CCC designated by the participant and named in any letter of commitment issued to a banking institution. This term shall include any agent authorized to act on behalf of such an applicant.

(3) “Banking institution" means a banking institution organized under the laws of the United States, any State, or the District of Columbia.

(4) [Reserved]

(5) "Form CCC-329" means the signed original of Form CCC-329 "Supplier's Certificate" having an issue date of January 1, 1967 or later.

(6) "Commodity" means an agricultural commodity produced in the United States or product thereof produced in the United States as specified

in the applicable purchase authorization.

(7) "Copy" means a photocopy or other type of copy of an original document showing all data shown on the original, including signature or the name of the person signing the original, or, if the signature or name is not shown on the copy, a statement that the original was signed.

(8) "Delivery" means the transfer to or for the account of an importer of custody and right of possession of the commodity at U.S. ports or Canadian transshipment point in accordance with the delivery terms of the contract and purchase authorization. Delivery shall be deemed to occur as of the onboard date shown on the ocean bill of lading.

(9) "Destination country" means the foreign country to which the commodities are exported under a private trade entry agreement.

(10) "Foreign currency" and "local currency" are interchangeable terms and mean a currency of the importing country.

(11) "Foreign currency sale" means sales for the currency of the importing country.

(12) "Importer" means the legal entity which contracts with the supplier for the importation of the commodity. The importer may be the participant or any legal entity to which a participant has issued a subauthorization.

(13) "Importing country" means any nation with which an agreement has been negotiated pursuant to the Act.

(14) "Letter of credit" means an irrevocable commercial letter of credit issued, confirmed, or advised by a banking institution on behalf of an approved applicant.

(15) "Long-term credit sale" is the collective term used to denote any one or more of the following: (i) Sales to an importing country for dollars on credit terms (ii) sales to a private trade entity for dollars on credit terms and (iii) sales to an importing country for local currency on credit terms which permit conversion to dollars.

(16) "Participant" is the collective term used to denote the importing country or the private trade entity

with whom an agreement has been negotiated pursuant to the Act.

(17) "Purchase authorization" means OGSM Form-480 (Commodity) Authorization to Purchase Agricultural Commodity or OGSM Form-480 (Ocean Transportation) Authorization to Procure Ocean Transportation, issued to a participant pursuant to these regulations in this subpart.

(18) "Private Trade Entity" means the individual or other nongovernmental legal entity with whom a long-term credit sale agreement has been negotiated pursuant to the Act.

(19) "Selling agent" means any individual or other legal entity who operates as a bona fide sales agent for the supplier of the commodity and who is not employed by or otherwise connected with the importer or the importing country.

(20) “Supplier” means any individual or other legal entity who sells any commodity to an importer under the terms of a purchase authorization for delivery to such importer, or who sells ocean transportation to an importer or supplier of the commodity under the terms of a purchase authorization. (See § 17.6(a)(4).)

(21) "Legal entity" shall include, but not be limited to, an individual (except that an individual and his or her spouse and their minor children shall be considered as one legal entity), partnership, association, company, corporation, and trust.

(22) "Shipping agent" means any person engaged by a participant to arrange ocean transportation.

(23) "Ships broker" means any person engaged by a supplier of ocean transportation to arrange employment of vessels.

(24) "Purchasing agent" means any person engaged by a participant to procure agricultural commodities.

(25) "Person" means an individual or other legal entity.

(26) "Invitation for bids" and "IFB" mean a publicly advertised request for offers.

(Secs. 101-115, Pub. L. 83-480, as amended (7 U.S.C. 1701 et seq.); E.O. 10900, 26 FR 143, as amended)

[31 FR 16818, Dec. 31, 1966; 32 FR 3935, Mar. 10, 1967, as amended at 32 FR 5977, Apr. 14, 1967; 33 FR 5137, Mar. 29, 1968; 34

FR 8963, June 5, 1969; 42 FR 54399, Oct. 6, 1977]

§ 17.3 Purchase authorization.

(a) Application. For each commodity the participant shall submit to the General Sales Manager an application for authorization to purchase the commodity or for authorization to procure ocean transportation, or both. The completed application shall be submitted in triplicate on OGSM Form-480 (Application) and shall include a statement as to the usual marketings of the commodity in accordance with the applicable agreement and any other information required by the General Sales Manager.

(b) Issuance of purchase authorization. On approval of the application by the General Sales Manager, a purchase authorization will be issued to the participant. The forms used shall be OGSM Form-480 (Commodity), Authorization to Purchase Agricultural Commodity and OGSM Form-480

(Ocean Transportation), Authorization to Procure Ocean Transportation. Financing will be in accordance with the purchase authorization.

(c) Provisions of purchase authorization. Each purchase authorization will specify:

(1) Authorization to purchase commodity. (i) The commodity to be purchased and the approximate quantity and maximum dollar value;

(ii) Contracting requirements in addition to or in lieu of those enumerated in Appendix A of this subpart, if any;

(iii) The periods during which contracts between suppliers and importers must be entered into and during which deliveries must be made;

(iv) The terms of delivery to the importer;

(v) Documentation required in support of drafts presented to banks by suppliers in addition to or in lieu of the documentation specified in Appendix B of this subpart;

(vi) Provisions relating to payment to CCC, if applicable;

(vii) The ASCS Office which will administer the financing operation on behalf of CCC;

(viii) The method of financing;

(ix) Any limitation relating to financing by CCC in addition to or in lieu of those specified in the regulations in this subpart;

(x) Any other provisions deemed necessary by the General Sales Manager.

(2) Authorization to procure ocean transportation. (i) The commodity to be shipped;

(ii) The delivery period;

(iii) The maximum dollar amount for ocean transportation;

(iv) Any limitation relating to financing by CCC in addition to or in lieu of those specified in the regulations in this subpart;

(v) Any other provisions deemed necessary by the General Sales Manager.

(d) Applicability of this subpart. In addition to the provisions of the particular purchase authorization, each purchase authorization (unless otherwise provided) shall be subject to the provisions of this subpart to the same extent as if the provisions were fully set forth in the purchase authorization.

(e) Modification or revocation. The General Sales Manager reserves the right at any time for any reason or cause whatsoever to supplement, modify, or revoke any purchase authorization, including the termination of deliveries. CCC shall reimburse suppliers who would otherwise be entitled to be financed by CCC for costs which were incurred as a result of such action by the General Sales Manager in connection with firm sales or shipping contracts, and which were not otherwise recovered after a reasonable effort to minimize such costs: Provided, however, That such reimbursement shall not be made to a supplier if the General Sales Manager determines that his action was taken because the supplier failed to comply with the requirements of the regulations in this subpart or the applicable purchase authorization; Provided further, That reimbursement to suppliers of ocean transportation shall not exceed the ocean freight differential when the purchase authorization provides only for financing the differential.

(f) Refund to CCC for failure to comply by the participant. The partici

pant shall pay in U.S. dollars promptly to CCC on demand by the General Sales Manager the entire amount financed by CCC (or such lesser amount as the General Sales Manager may demand) whenever the General Sales Manager determines that the participant has failed to comply with any agreement or commitment made by it in connection with the transaction financed.

(g) Extension of delivery periods in purchase authorizations. Requests for extensions of delivery periods will be considered by the General Sales Manager only if submitted by the participant. Such requests should be submitted as far as possible in advance of the expiration of the delivery period and in any event as soon as the participant has knowledge that delivery may not be completed within the period specified in the purchase authorization. Requests for extension must establish to the satisfaction of the General Sales Manager that failure to complete delivery was due to a cause other than the fault or negligence of the importer or the supplier. The General Sales Manager may also approve requests for extension if he determines that such extension would be in the interest of the United States.

(h) Letters of conditional reimbursement. The General Sales Manager, at his election, may issue to an importing country or a private trade entity, with which an Agricultural Commodities Agreement is being considered, a letter of agreement which authorizes it to apply for a purchase authorization under which it may obtain reimbursement for certain costs incurred by it in the procurement of the commodity and ocean freight before the signing of the agreement. Such reimbursement shall be conditioned on the signing of an Agricultural Commodities Agreement with the participant providing for the financing of such commodity and ocean freight and on the participant's complying with the terms and conditions set forth in the Agreement, the letter, and the purchase authorization.

[31 FR 16818, Dec. 31, 1966, as amended at 33 FR 5137, Mar. 29, 1968]

§ 17.4 Subauthorizations.

The particpant may issue subauthorizations to importers within the terms of the applicable purchase authorization. The participant, in subauthorizing, shall instruct importers to use the applicable purchase authorization number in placing orders, and shall specify to importers all the provisions of the applicable purchase authorization which are applicable to the subauthorization. Each importer granted a subauthorization must inform his supplier that the transaction is to be financed under the provisions of the regulations in this subpart. The importer must also provide his supplier with the applicable purchase authorization number. Copies of the purchase authorization may be obtained from the Office of the General Sales Manager (see § 17.1(e)). The importer shall inform his supplier of any special provisions which affect the supplier in carrying out the transaction.

§ 17.5 Eligible commodities.

(a) General. Commodities eligible for financing under the regulations in this subpart shall be those determined by the Secretary to be available for disposition under the Act.

(b) Commodity description and specification. The commodity and quantity thereof to be financed shall be as described and specified in the purchase authorization.

(c) Payment-in-kind and cash payment-export programs. Any commodity exported under the regulations in this subpart to which a payment-inkind or cash export subsidy is applicable under any export subsidy program will be eligible for such subsidy payment if the terms and conditions of such export subsidy program are met.

(d) Export Wheat Marketing Certificate Program. Any wheat exported under the regulations in this subpart is subject to any export wheat marketing certificate costs announced by USDA under the Export Wheat Marketing Certificate Regulations.

(e) Cotton textiles. (1) Except as provided in paragraph (e)(2) of this section, financing of textiles under these regulations will be limited to cotton yarns and fabrics processed up to and

including the dyed and printed state, including preshrinking. If any further processing of such yarns and fabrics beyond such stage is desired, it shall be at the expense of the participant. Financing will be available only for textiles manufactured entirely of U.S. cotton in the United States.

(2) Purchase authorizations may permit cotton textiles processed beyond the stage described in paragraph (e)(1) of this section to be procured from U.S. suppliers, but the maximum financing by CCC under these regulations will be limited to the equivalent value of the cotton yarns and fabrics, described in paragraph (e)(1) of this section, contained in such textiles plus eligible ocean transportation costs.

(3) If a purchase authorization for a textile of a specification not produced in the United States should be requested, a purchase authorization for such specification will not be issued and any purchase authorization issued shall provide instead for the financing of a textile produced in the United States which has a reasonably close specification to that requested.

[31 FR 16818, Dec. 31, 1966, as amended at 33 FR 5137, Mar. 29, 1968]

§ 17.6 Contracts between suppliers and importers.

(a) Eligibility for financing. To be eligible for financing, contracts shall comply with the following requirements unless otherwise specified in the purchase authorization.

(1) Contracts between importers and commodity suppliers must be entered into within the contracting period specified in the purchase authorization and shall provide for deliveries to the importer in accordance with the delivery terms and during the delivery period specified in the purchase authorization, unless an extension of such contracting or delivery period is granted in writing by the General Sales Manager (see § 17.3(g));

(2) Contracts for a commodity, under a purchase authorization which limits contracting to f.o.b. or f.a.s. terms must be separate and apart from the contract for ocean transportation on such commodity;

(3) The contracted price must not be on a cost plus a percentage-of-cost basis;

(4) Commodity contracts between suppliers and importers made subject to the applicable purchase authorization shall be deemed to be conditioned on the approval by USDA of the supplier, the selling agent if any, the contract price, and, whenever purchases are made on the basis of an IFB, responsiveness to IFB terms.

(5) The supplier must be engaged in the business of selling for export, or furnishing ocean transportation, from the United States, must maintain a bona fide business office in the United States, and must have a person, principal or agent, on whom service of judicial process may be had in the United States. A firm of which more than 50 percent is owned or which is controlled by a foreign government is not eligible to act as supplier.

(6) USDA reserves the right to permit a person or firm to act as a supplier only on submission of acceptable security which will assure that the supplier and his selling agents will perform the obligations required under this subpart and the purchase authorization. The officials responsible for approval of the suppliers are:

(i) The Administrator, ASCS, for cotton and tobacco and (ii) the General Sales Manager, OGSM, for all other commodities. Such Administrators reserve the right at any time to require of any supplier relevant information as to the supplier and his selling agents including among other things information setting forth his background and experience in the exportation of agricultural commodities, evidence of financial responsibility, and such other information as may be requested relating to whether the person or firm is a responsible party and able to perform obligations imposed on him by this subpart and purchase authorization. The details of sales contracts between the suppliers and importers are required to be stated in the notification of sale pursuant to Appendix A or the purchase authorization, and will be subject to prior approval by USDA.

(7) A supplier or selling agent who is not approved, or is approved upon any

conditions established under applicable criteria of this section, shall be notified of such determination promptly. The notification shall state the reasons for the action taken or conditions established. Such person shall have the right to appeal such action to a designated USDA official and submit further information, orally or in writting, bearing on such determination.

(b) Contracting procedures—-(1) Purchasing-general. Importers may purchase through negotiation with a supplier or suppliers of the importer's choice except when the regulations (§ 17.6(b)(2)) or the purchase authorization specifies that purchases must be made on the basis of IFB's.

(2) Purchasing-food commodities. The importer shall purchase food commodities on the basis of IFB's.

(3) IFB's-general. Whenever commodity purchases are made on the basis of IFB's the following conditions shall apply:

(i) The terms of the IFB must be approved by the GSM prior to issuance.

(ii) The IFB shall be issued in the United States and all offers shall be opened in public in the United States at the time and place specified in the IFB.

(iii) The IFB shall permit submission of offers from all suppliers who meet the requirements of this section.

(iv) The IFB shall not preclude offers for shipment from any United States port(s) unless the purchase authorization limits exportation to certain ports.

(v) The IFB shall not establish minimum quantities to be offered or which will be considered.

(vi) The IFB shall be in compliance with the regulations, the purchase authorization, and sound commercial standards.

(4) Contract awards. (i) Whenever purchases are made on the basis of an IFB, the importer shall consider only offers which are responsive to the IFB and shall make awards on the basis of the lowest commodity price(s) offered, unless the importer determines and the GSM agrees that acceptance of a higher commodity price would result in the lowest landed cost of the commodity: Provided, That awards may not be made on a "lowest landed cost"

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