USDA Ends 'Affiliate' Certification Requirements for Export Credit Guarantee Program

The U.S. Department of Agriculture's Foreign Agricultural Service finalized a rule updating the qualifications for participating in the Export Credit Guarantee Program, the agency said in a notice. Previous regulations required certifications for program participant "affiliates," FAS said. The agency is now eliminating that requirement in order to better align with other USDA requirements, it said. Also, "the 'affiliate' certification is burdensome on U.S. exporters, sellers, and U.S. and foreign financial institution participants that are large, and often diverse, organizations with many affiliates," it said. "This change will therefore reduce the burden on program applicants and participants." The change is effective June 18.