[Federal Register Volume 61, Number 79 (Tuesday, April 23, 1996)]
[Rules and Regulations]
[Pages 17823-17824]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-9899]



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 Rules and Regulations
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  Federal Register / Vol. 61, No. 79 / Tuesday, April 23, 1996 / Rules 
and Regulations  

[[Page 17823]]



DEPARTMENT OF AGRICULTURE

Office of the Secretary

7 CFR Part 17


Regulations Governing the Financing of Commercial Sales of 
Agricultural Commodities

AGENCY: Foreign Agricultural Service, USDA.

ACTION: Final rule.

-----------------------------------------------------------------------

SUMMARY: This rule amends regulations applicable to the financing of 
the sale and exportation of agricultural commodities pursuant to title 
I of the Agricultural Trade Development and Assistance Act of 1954, as 
amended (Pub. L. 480).
    The amendment deletes one document from the list of those documents 
currently required to be submitted by the commodity supplier to the 
banking institution to support a request for payment; and deletes the 
contracting and documentary requirements for commodities which have not 
been shipped under the program for a number of years.
    The purpose of these changes is to reduce the documentation 
required for payment to commodity suppliers and to simplify and shorten 
the regulations.

EFFECTIVE DATE: May 23, 1996. See supplementary information for 
compliance requirements.

FOR FURTHER INFORMATION CONTACT:
Connie B. Delaplane, Director, Public Law 480 Operations Division, 
Export Credits, Foreign Agricultural Service, U.S. Department of 
Agriculture, Room 4549, South Building, 14th and Independence, SW., 
Washington, DC 20250-1033. Telephone: (202) 720-3664.

SUPPLEMENTARY INFORMATION: This final rule is issued in conformance 
with Executive Order 12866. It has been determined to be significant 
for the purposes of E.O. 12866 and, therefore, has been reviewed by the 
Office of Management and Budget (OMB).

Regulatory Flexibility Act

    This final rule has been reviewed with regard to the requirements 
of the Regulatory Flexibility Act. The General Sales Manager has 
certified that this rule will not have a significant economic impact on 
a substantial number of small entities. There will be no significant 
economic impact from this final rule on small or large entities. A copy 
of this final rule has been submitted to the General Counsel, Small 
Business Administration.

Executive Order 12372

    This program is not subject to the provisions of Executive Order 
12372 which requires intergovernmental consultation with state and 
local officials. See the Notice related to 7 CFR Part 3015, Subpart V, 
published at 48 FR 29115 (June 24, 1983).

Executive Order 12778

    This final rule has been reviewed under the Executive Order 12778, 
Civil Justice Reform. The final rule would have preemptive effect with 
respect to any state or local laws, regulations, or policies which 
conflict with such provisions or which otherwise impede their full 
implementation. The final rule would not have retroactive effect. The 
rule does not require that administrative remedies be exhausted before 
suit may be filed.

Background

    The Secretary of Agriculture implements title I of the Agricultural 
Trade Development and Assistance Act of 1954, as amended (Pub. L. 480). 
This function is delegated to the General Sales Manager, Foreign 
Agricultural Service. On August 22, 1995, the Foreign Agricultural 
Service (FAS) published a proposed rule (60 FR 43566) to amend the 
regulations governing the financing of the sale and exportation of 
agricultural commodities made available under title I, Public Law 480.

Discussion of Comments

    Only one comment was received, fully supporting the proposed 
changes to the regulations: (1) Removing from the regulations 
information regarding a number of inactive commodities and (2) 
Eliminating one document currently required to be submitted by 
commodity suppliers seeking payment.

Effective Date

    The provisions of this rule shall apply to contracts entered into 
under purchase authorizations issued on or after May 23, 1996.

Paperwork Reduction Act

    This final rule does not contain any information collection 
requirements that require OMB approval under the provisions of the 
Paperwork Reduction Act.

List of Subjects in 7 CFR Part 17

    Agricultural commodities, Exports, Finance; Maritime carriers.

    Accordingly, 7 CFR Part 17, Subpart A, is amended as follows:
    1. The authority citation for Part 17 continues to read as follows:

    Authority: 7 U.S.C. 1701-1705, 1736a, 1736c, 5676; E.O. 12220, 
45 FR 44245.


Sec. 17.2   [Amended]

    2. Section 17.2 is amended by removing the last sentence of the 
definition of ``Form CCC-106'' in paragraph (b).
    3. Section 17.14 is amended by removing the word ``(white)'' from 
the first sentence of paragraph (d)(1); revising the last sentence of 
paragraph (d)(1) and all of paragraph (d)(2)(i) to read as follows; and 
removing the word ``(yellow)'' from paragraph (d)(2)(ii), as follows:


Sec. 17.14   Ocean transportation.

* * * * *
    (d) Advice of vessel approval. * * *
    (1) For cotton. * * * If CCC finances any part of the ocean freight 
when cotton is shipped on an f.a.s. basis, a signed original copy of 
this form will be issued to the ocean carrier.
    (2) For commodities other than cotton. * * *
    (i) For shipments to be made on an f.o.b. or f.a.s. basis, when CCC 
finances any part of the cost of ocean freight, the original of Form 
CCC-106-2 will be issued to the ocean carrier.
* * * * *


Sec. 17.18   [Amended]

    4. Section 17.18 is amended by adding the phrase ``for c. & f. or 
c.i.f. sales'' at the end of paragraph (c)(8)(ii).

[[Page 17824]]

Sec. 17.20   [Amended]

    5. Section 17.20 is amended by changing the reference to ``sections 
(V) and (W)'' to read ``sections (D) and (E)'' in paragraph (a)(9)(i).


Appendices A and B   [Amended]

    6. Appendix A and Appendix B are amended by removing existing 
sections (D), (E), (G), (I), (J), (L), (M), (N), (O), (P), (Q), (R), 
(S), (T), and (U); redesignating existing section ((K) as (G); 
redesignating existing section (V) as (D); and redesignating existing 
section (W) as (E).
    7. Appendix B is amended by changing the reference to ``section 
(K)(7)(b)'' to read ``section (G)(7)(b)'' in newly redesignated 
paragraph (G)(1)(j) and by adding the phrase ``for c. & f. or c.i.f. 
sales'' at the end of the following paragraphs: (A)(1)(d) and (2)(d); 
(B)(4); (C)(1)(d) and (2)(d); newly redesignated (D)(4) and (E)(4); 
(F)(1)(d) and (2)(d); newly redesignated (G)(1)(d) and (2)(d); and 
(H)(1)(d) and (2)(d).

    Signed at Washington, D.C. on February 22, 1996.
Christopher E. Goldthwait,
General Sales Manager, Foreign Agricultural Service and Vice President, 
Commodity Credit Corporation.
[FR Doc. 96-9899 Filed 4-22-96; 8:45 am]
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