USDA starts online program for exporters, banks
The U.S. Department of Agriculture’s Foreign Agricultural Service has started a Web site to speed up and simplify documentation for three export financing programs.
The General Sales Manager Online System allows U.S. exporters and banks to submit required documentation electronically for the Export Credit Guarantee (GSM-102), Supplier Credit Guarantee, and Facility Guarantee programs. These programs promote commercial financing of American agricultural exports.
To use the program, users must create an online account before they can submit applications for payment guarantees as well as submit over the Internet assignments of payment guarantees, amendments to guarantees, evidence of export reports, and notices of default.
Additional information about the GSM Online System is available at http://www.fas.usda.gov/excredits/gsmonline/intro.asp. Exporters who need further information should contact the Foreign Agricultural Service’s Contract and Registration Branch at (202) 720-3224, or by e-mail at AskGSM@fas.usda.gov. U.S. banks should contact the Farm Service Agency’s Financial Management Division at (703) 305-0957