Page:United States Statutes at Large Volume 92 Part 2.djvu/407

 PUBLIC LAW 95-501—OCT. 21, 1978 eligible for financing under the short-term export credit sales program conducted by the Commodity Credit Corporation.. (b) Exporters who are willing to sell United States agricultural commodities to foreign buyers on deferred payment terms of not to exceed three years and who must provide such deferred payment terms in order to meet sales competition from other nations, or to make additional export sales, may apply to the Commodity Credit Corporation for financing such sales. Financing under this section shall not be provided by the Corporation until the applicant's export sales plan has been approved by the Corporation and the applicant has established to the satisfaction of the Corporation that exports have been made in accordance with the approved plan. (c) Repayment to the Commodity Credit Corporation shall be made in dollars by the exporter in accordance with the terms and at interest rates contained in the approved export sales plan. Interest rates on such financing shall be no higher than those charged for financing under the short-term export credit sales program conducted by the Corporation. (d) The Secretary may, if the Secretary deems such action appropriate to protect the interests of the United States, require a performance guarantee from the exporter at the time of the sale. (e) Financing agreements with exporters entered into under this section shall be subject to such other terms and conditions as the Secretary may deem necessary or appropriate and shall be subject only to review by the National Advisory Council on International Monetary and Financial Policies. (f) The authority provided under this section shall be in addition to, and not in place of, any authority granted to the Secretary or the Commodity Credit Corporation under any other provision of law*

92 STAT. 1687

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Repayment in dollars, = i Perfonnance guarantee, Review.

CREDIT SALES TO THE P E O P L E ' S REPUBLIC OF CHnSTA

SEC. 202. Notwithstanding any other provision of law, in order to 7 USC 1707c. expand and develop markets for United States agricultural commodities, the Commodity Credit Corporation may provide financing for commercial sales of agricultural commodities out of private stocks on terms of not to exceed three years to the People's Republic of China under (1) the short-term export credit sales program conducted by the Corporation, and (2) the deferred payment sales program for exporters established under section 201 of this title. DEFINITION

SEC. 203. The term "agricultural commodity" as used in this title 7 USC 1707d. includes any agricultural commodity or product thereof. TITLE III—AGRICULTURAL COUNSELORS SEC. 301. Title VI of the Act of August 28, 1954 (68 Stat. 908-910, as amended; 7 U.S.C. 1761-1768), is amended by— (1) amending the title designation to read as follows: "TITLE VI—FOREIGN MARKET DEVELOPMENT"; (2) inserting immediately before section 601 the subtitle designation as follows:

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