We preliminarily determine the benefit conferred by this program to be 0.55 percent ad valorem. One footwear exporter received benefits under this program in 1981. Dividing the benefits by total exports onf non-rubber footwear in 1981, we preliminarily determine an ad valorem benefit of 0.04 percent from this program. One footwear exporter received benefits under this program in 1981. Dividing these benefits by total exports of non-rubber footwear in 1981, we preliminarily determine an ad valorem benefit of 0.05 percent from this program.
Eligible firms have access to a line of credit which can be drawn down to purchase goods for export.
The trading companies use the loan principal as advance payment for the goods purchased. These loans are subject to the same interest constraints as Resolution 674 loans. Normally, the term of the loan is not to exceed 180 days but the actual length varies, running from the date of receipt of the loan to the date of shipment of the goods. The interest is paid in full at the end of the loan term. During the period of review, one firm received benefits under this program for the purchase of non-rubber footwear for export.