The Short Term Export Credit Guarantee Program (GSM-102) is one of the Commodity Credit Corporation (CCC) export credit guarantee programs. (GSM-102) covers credit terms up to three years. It underwrites credit extended by the private banking sector in the United States (or, less commonly, by the U.S. exporter) to approved foreign banks using dollar-denominated, irrevocable letters of credit to pay for food and agricultural products sold to foreign buyers.[1]

See also

Intermediate Export Credit Guarantee Program

References

  1. ↑ Jasper Womach (2005). "Report for Congress: Agriculture: A Glossary of Terms, Programs, and Laws, 2005 Edition" (PDF). Archived from the original on 2011-08-10. Retrieved 2016-07-02.{{cite web}}: CS1 maint: bot: original URL status unknown (link)
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