Therefore, for purposes of cash deposits of estimated countervailing duties, we preliminarily determine that exporters of this merchandise continue to receive no benefits from this program. Exporters of certain castor oil products participated in this program during the period of review. There is no maximum interest rate for this program. Interest payments by the exporters of castor oil are normally made quarterly or semiannually, with the full principal to be repaid at maturity. We preliminarily determine the benefit from this program to be 0.11 percent ad valorem.
Eligible firms have access to a line of credit that can be drawn down to purchase goods for export.
The trading companies use the loans 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 does not 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 maturity. During the period of review, one firm received benefits under this program for the purchase of certain castor oil products for export.