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VOLUME 21

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NUMBER 44

Washington, Tuesday, March 6, 1956

TITLE 7 AGRICULTURE
Subtitle A Office of the Secretary of Agriculture Part 11S ales o p A gricultural C om
modities for F oreign C urrencies SUBPART AREGULATIONS GOVERNING THE
FINANCING op commercial sales op SURPLUS AGRICULTURAL COMMODITIES
FOR FOREIGN CURRENCIES

Subpart A of P art 11 is revised and amended as follows:
Sec.
11.1
11.2
11.3
11.4
11.5
11.6
11.7
11.8

Definition of terms.
General statement.
Applications.
Purchase authorizations.
Sub-authorizations.
Commodities eligible for financing.
Methods of financing.
Letters of commitment to banking institutions.
11.9 Documentation.
11.10 Responsibilities of banking institu tions in connection with letters o f commitment issued to them.
11.11 Price provisions.
11.12 Ocean transportation.
11.13 Additional responsibilities of im porters and suppliers.
11.14 Saving clause.
11.15 CCC Commodity Offices.
11.16 Effective date.
Authority: l l . l to 11.16 issued under 102, 68 Stat. 455, as amended, 69 Stat.
s rro SC- 1702>K
10560, 19 F. R. 5927,
1954 Supp. Interpret or apply secs.
1701 68 Stat 454, 455; 7 US- C- 1691

11.1 Definition of terms. For the Purposes of this subpart: The act shall mean title I of ne Agricultural Trade Development and Assistance Act of 1954, as amended.
id Purchase Authorization shall 55 pAS Form 480-A, Authorization Surplus Agricultural Compao Foreign Currency, or Form 480-A Ocean TransportaTrr Authorization to Procure Ocean v!fporaion issued to an importing pursuant to this subpart.
FAS shall mean the Foreign S S r f erVie U S Department
d CCC shall mean the Commodity Credit Corporation, U. S. Department of Agriculture.
e AMS shall mean the Agricul tural Marketing Service, U. S. Depart ment of Agriculture.
f CSS shall mean the Commodity Stabilization Service, U. S. Department of Agriculture.
g CSS Offices shall mean the CSS
Divisions, the CSS Commodity Offices listed in 11.15 and any other offices or agencies which may succeed to the func tions of such offices.
h The Administrator shall mean the Administrator of the Foreign Agri cultural Service or his designee.
i The Controller, CCC shall mean the Controller, Commodity Credit Cor poration, or his designee.
j Importing country shall mean any nation with which an agreement has been negotiated pursuant to section 101
of the Act.
k Importer shall mean any person or organization, governmental or other wise, to which an importing country makes a subauthorization under a pur chase authorization.
l Approved applicant shall mean the foreign bank or other agency named in any letter of commitment issued to a banking institution under this subpart and shall include any agent authorized to act on behalf of such an applicant.
m Supplier shall mean any person or firm which sells any commodity or furnishes ocean transportation to an importer under the terms of a purchase authorization.
n Banking institution shall mean a banking institution organized under the laws of the United States, any State, or the District of Columbia.
o Delivery shall mean the trans fer to or for the account of an importer of custody and right of possession of the commodity in export channels e. g.
f. o. b. vessel, c. & f., from consigned stocks.
p Letters of credit shall mean ir revocable commercial letters of credit issued, confirmed or advised by a bankContinued on next page
CONTENTS
Agricultural Marketing Service
Pase
Proposed rule making:
Fruit preserves or jams ;
United States standards for grades___________________ 1451
Milk; handling in marketing area:
Chattanooga, Tenn________ 1452
South Bend-La Porte, Ind__ 1451
Rules and regulations:
Milk in Knoxville, Tenn., m ar keting area; certain provisions suspended________________ 1439
Agriculture Department
See also Agricultural Marketing Service; Commodity Stabiliza tion Service.
Rules and regulations:
Sales of agricultural commodi ties for foreign currencies__ 1431
Civil Aeronautics Administra tion
Rules and regulations:
Restricted areas; alterations-.