General Sales Manager

Under two programs -- GSM-102 and GSM-103 -- the Agriculture Department's
Commodity Credit Corporation provides guarantees for the repayment of
commercial credit extended to finance U.S. agricultural export sales. The
programs differ principally in the length of their terms of coverage. The
GSM-102 program (for General Sales Manager) provides coverage for terms
extending from six months to three years. Guarantees are extended to U.S.
banks confirming foreign letters of credit issued to assist foreign
importers who wish to buy U.S. exports and to help primarily developing
countries which may face difficulties in obtaining a loan. The GSM-103
program provides coverage for terms extending from 48 months to ten years.
Guarantees are extended foreign importers who wish to buy U.S. exports and
to help primarily developing countries which may face difficulties in
obtaining a loan.