Please Read. Minimum repayment is calculated by multiplying the Advance Rate in effect at time of issuance by the number of units sold. Proof of Sale Proof of sale documentation for repayments made directly by a producer to CCGA must be provided by the end of the production period. Proof of sale documentation is required in all circumstances, except as noted below for crops and honey. Repayments without proof of sale in excess of the greater of $10,000 or 10% of the total amount of the advance will be charged an interest penalty at the CIBC Prime rate less 0.50%. Refer to Section 3.0 of the Terms and Conditions for further details. For advances on crops and honey, proof of sale documentation is not required for repayments made from the beginning of the production period to January 31, 2023. When multiple advances are outstanding, repayments are first applied to defaulted accounts (if applicable) and then applied on the basis of “oldest advance first”. The current list of CCGA’s Authorized Buyers (applicable to grain only) is available at ▇▇▇.▇▇▇▇.▇▇. These grain Buyers have agreed, upon request from a producer, to remit deductions within 30 calendar days to CCGA for repayment toward an outstanding advance account. The Buyer will require the following account information: name, mailing address, and APP ID Number. Interest-bearing advances are subject to interest at the CIBC Prime Rate less 0.75% (calculated daily and compounded monthly), which is calculated and applied to accounts on at least a monthly basis. Repayments without proof of sale, as described in 3.0 of the Terms & Conditions, may be subject to an interest penalty at the CIBC Prime Rate less 0.50%. IMPORTANT INFORMATION FOR PRODUCERS - continued Security Default A grain producer must have valid 2022 crop insurance coverage or be enrolled in 2022 AgriStability to be eligible for a pre-harvest advance. Post-harvest advances are secured by the crop in storage. For farmers using SCIC or GARS who have completed an Assignment of Indemnity, CCGA can collect additional required documents directly from your insurance provider. Honey producers must have valid 2022 honey insurance coverage (AFSC or SCIC) or be enrolled in 2022 AgriStability to be eligible for an advance. Livestock producers must be enrolled in 2022 AgriStability to be eligible for an advance. The deadline to apply for AgriStability is April 30th of each year. AgriStability enrolment fees must be paid in full to be allowable as security for an advance. Product loss that is covered by BRM security will result in payments being made to CCGA until the advance is repaid in full. Recent changes to AMPA regulations have added flexibility for coverage that can secure an advance. Applicants wanting to use an alternate form of security should contact CCGA at ▇-▇▇▇-▇▇▇-▇▇▇▇ to determine security eligibility. A Priority Agreement with a Secured Creditor must be completed by your farm business financial institution(s). A separate Priority Agreement must be completed for each secured creditor that has, or could have, a security interest in or lien on the crops, livestock or sweeteners for which the advance application is being made. Examples of secured creditors may include, but are not limited to, financial lenders and crop input suppliers. If no priority agreements are submitted, a secured creditors search will be completed, which could result in delays. Each year CCGA completes verification audits with a sample group of cash advance recipients. Many verification audit candidates are randomly selected. Additional criteria are also used in determining the inspection sample group, including: a) insufficient documentation of sale; b) advances repaid the last month before the program deadline; c) applicants who had one or more defaults during the past three APP Program Years; and d) advances that CCGA ▇▇▇▇▇ ▇▇▇ carry a high risk. If upon inspection a producer is found to have an inventory shortage, the Producer will have 30 calendar days to repay the overissued amount or be declared in default. A field and/or inventory inspection may be required to verify compliance with AMPA. If a subsequent inspection is required, a $600 inspection fee will be payable by the producer. Refusal of an inspection will result in an immediate default. If your commodity is stored jointly with another producer, a clear breakdown by Producer should be provided at the time of inspection. Failure to comply with this Repayment Agreement, including, but not limited to full repayment by the applicable end of Production Period, will result in the account being declared in default. The full impact of a default is detailed in section 5.0 Default and 6.2 Interest Rate of the · The interest-free benefit is lost; · Default interest is charged at the CIBC Prime Rate + 1% on the outstanding balance from the date the advance was issued to the date of default; · Default interest is charged at the CIBC Prime Rate + 3% on the outstanding balance from the date of default until repaid in full; · A one-time Default Fee of $25 is charged immediately upon default; · A one-time Collection Service Charge of 3% is applied to the outstanding balance 45 days after the Default Notice; and · Defaulted producers could face an ineligibility period. Refer to section 5.6 of the Terms & Conditions for details. Important Information for Producers CHECKLIST Check this list to avoid application processing delays. Pages 5-6 outline the pages that ALL applicants must complete. In addition to those pages, you will need to complete the section below (1, 2 or 3) that is relevant for your advance application. There are 3 categories of advances, depending on the agricultural product on which you are applying, as well as time of year:
Appears in 1 contract
Sources: Advance Payments Program Application and Repayment Agreement
Please Read. Minimum repayment is calculated by multiplying the Advance Rate in effect at time of issuance by the number of units sold. Proof of Sale Proof of sale documentation for repayments made directly by a producer to CCGA must be provided by the end of the production period. Proof of sale documentation is required in all circumstances, except as noted below for crops and honey. Repayments without proof of sale in excess of the greater of $10,000 or 10% of the total amount of the advance will be charged an interest penalty at the CIBC Prime rate less 0.50%. Refer to Section 3.0 of the Terms and Conditions for further details. For advances on crops and honey, proof of sale documentation is not required for repayments made from the beginning of the production period to January 31, 2023. When multiple advances are outstanding, repayments are first applied to defaulted accounts (if applicable) and then applied on the basis of “oldest advance first”. Do not apply. The current list of CCGA’s Authorized Buyers (applicable to grain only) is available at ▇▇▇.▇▇▇▇.▇▇. These grain Buyers have agreed, upon request from a producer, to remit deductions within 30 calendar days to CCGA for repayment toward an outstanding advance account. The Buyer will require the following account information: name, mailing address, and APP ID Number. Interest-bearing advances are subject to interest at the CIBC Prime Rate less 0.75% (calculated daily and compounded monthly), which is calculated and applied to accounts on at least a monthly basis. Repayments without proof of sale, as described in 3.0 of the Terms & Conditions, may be subject to an interest penalty at the CIBC Prime Rate less 0.50%. IMPORTANT INFORMATION FOR PRODUCERS - continued Security Default A grain producer must have valid 2022 crop insurance coverage or be enrolled in 2022 AgriStability to be eligible for a pre-harvest advance. Post-harvest advances are secured by the crop in storage. For farmers using SCIC or GARS who have completed an Assignment of Indemnity, CCGA can collect additional required documents directly from your insurance provider. Honey producers must have valid 2022 honey insurance coverage (AFSC or SCIC) or be enrolled in 2022 AgriStability to be eligible for an advance. Livestock producers must be enrolled in 2022 AgriStability to be eligible for an advance. The deadline to apply for AgriStability is April 30th of each year. AgriStability enrolment fees must be paid in full to be allowable as security for an advance. Product loss that is covered by BRM security will result in payments being made to CCGA until the advance is repaid in full. Recent changes to AMPA regulations have added flexibility for coverage that can secure an advance. Applicants wanting to use an alternate form of security should contact CCGA at ▇-▇▇▇-▇▇▇-▇▇▇▇ to determine security eligibility. A Priority Agreement with a Secured Creditor must be completed by your farm business financial institution(s). A separate Priority Agreement must be completed for each secured creditor that has, or could have, a security interest in or lien on the crops, livestock or sweeteners for which the advance application is being made. Examples of secured creditors may include, but are not limited to, financial lenders and crop input suppliers. If no priority agreements are submitted, a secured creditors search will be completed, which could result in delays. Program year has ended. Each year CCGA completes verification audits with a sample group of cash advance recipients. Many verification audit candidates are randomly selected. Additional criteria are also used in determining the inspection sample group, including: a) insufficient documentation of sale; b) advances repaid the last month before the program deadline; c) applicants who had one or more defaults during the past three APP Program Years; and d) advances that CCGA ▇▇▇▇▇ ▇▇▇ carry a high risk. Do not apply. If upon inspection a producer is found to have an inventory shortage, the Producer will have 30 calendar days to repay the overissued amount or be declared in default. A field and/or inventory inspection may be required to verify compliance with AMPA. If a subsequent inspection is required, a $600 inspection fee will be payable by the producer. Refusal of an inspection will result in an immediate default. If your commodity is stored jointly with another producer, a clear breakdown by Producer should be provided at the time of inspection. Failure to comply with this Repayment Agreement, including, but not limited to full repayment by the applicable end of Production Period, will result in the account being declared in default. The full impact of a default is detailed in section 5.0 Default and 6.2 Interest Rate of the · The interest-free benefit is lost; · Default interest is charged at the CIBC Prime Rate + 1% on the outstanding balance from the date the advance was issued to the date of default; · Default interest is charged at the CIBC Prime Rate + 3% on the outstanding balance from the date of default until repaid in full; · A one-time Default Fee of $25 is charged immediately upon default; · A one-time Collection Service Charge of 3% is applied to the outstanding balance 45 days after the Default Notice; and · Defaulted producers could face an ineligibility period. Refer to section 5.6 of the Terms & Conditions for details. Important Information for Producers CHECKLIST Check this list to avoid application processing delays. Pages 5-6 outline the pages that ALL applicants must complete. In addition to those pages, you will need to complete the section below (1, 2 or 3) that is relevant for your advance application. There are 3 categories of advances, depending on the agricultural product on which you are applying, as well as time of year:
Appears in 1 contract
Sources: Advance Payments Program Application and Repayment Agreement
Please Read. Minimum repayment is calculated by multiplying the Advance Rate in effect at time of issuance by the number of units sold. Proof of Sale Proof of sale documentation for repayments made directly by a producer to CCGA must be provided by the end of the production period. Proof of sale documentation is required in all circumstances, except as noted below for crops and honey. Repayments without proof of sale in excess of the greater of $10,000 or 10% of the total amount of the advance will be charged an interest penalty at the CIBC Prime rate less 0.50%. Refer to Section 3.0 of the Terms and Conditions for further details. For advances on crops and honey, proof of sale documentation is not required for repayments made from the beginning of the production period to January 31, 20232024. When multiple advances are outstanding, repayments are first applied to defaulted accounts (if applicable) and then applied on the basis of “oldest advance first”. The current list of CCGA’s Authorized Buyers (applicable to grain only) is available at ▇▇▇.▇▇▇▇.▇▇. These grain Buyers have agreed, upon request from a producer, to remit deductions within 30 calendar days to CCGA for repayment toward an outstanding advance account. The Buyer will require the following account information: name, mailing address, and APP ID Number. Interest-bearing advances are subject to interest at the CIBC Prime Rate less 0.75% (calculated daily and compounded monthly), which is calculated and applied to accounts on at least a monthly basis. Repayments without proof of sale, as described in 3.0 of the Terms & Conditions, may be subject to an interest penalty at the CIBC Prime Rate less 0.50%. IMPORTANT INFORMATION FOR PRODUCERS - continued Security Default A pre-harvest winter cereal advance can only be secured by 2022 crop insurance or Global Ag Risk coverage. A grain producer must have valid 2022 crop insurance coverage or be enrolled in 2022 AgriStability to be eligible for a pre-harvest advance. Post-harvest advances are secured by the crop in storage. For farmers using SCIC or GARS who have completed an Assignment of Indemnity, CCGA can collect additional required documents directly from your insurance provider. Honey producers must have valid 2022 honey insurance coverage (AFSC or SCIC) or be enrolled in 2022 AgriStability to be eligible for an advance. Livestock producers must be enrolled in 2022 AgriStability to be eligible for an advance. The deadline to apply for AgriStability is April 30th of each year. AgriStability enrolment fees must be paid in full to be allowable as security for an advance. Product loss that is covered by BRM security will result in payments being made to CCGA until the advance is repaid in full. Recent changes to AMPA regulations have added flexibility for coverage that can secure an advance. Applicants wanting to use an alternate form of security should contact CCGA at ▇-▇▇▇-▇▇▇-▇▇▇▇ to determine security eligibility. A Priority Agreement with a Secured Creditor must be completed by your farm business financial institution(s). A separate Priority Agreement must be completed for each secured creditor that has, or could have, a security interest in or lien on the crops, livestock or sweeteners crops for which the advance application is being made. Examples of secured creditors may include, but are not limited to, financial lenders and crop input suppliers. If no priority agreements are submitted, a secured creditors search will be completed, which could result in delays. Each year CCGA completes verification audits with a sample group of cash advance recipients. Many verification audit candidates are randomly selected. Additional criteria are also used in determining the inspection sample group, including: a) insufficient documentation of sale; b) advances repaid the last month before the program deadline; c) applicants who had one or more defaults during the past three APP Program Years; and d) advances that CCGA ▇▇▇▇▇ ▇▇▇ carry a high risk. If upon inspection a producer is found to have an inventory shortage, the Producer will have 30 calendar days to repay the overissued amount or be declared in default. A field and/or inventory inspection may be required to verify compliance with AMPA. If a subsequent inspection is required, a $600 inspection fee will be payable by the producer. Refusal of an inspection will result in an immediate default. If your commodity is stored jointly with another producer, a clear breakdown by Producer should be provided at the time of inspection. Failure to comply with this Repayment Agreement, including, but not limited to full repayment by the applicable end of Production Period, will result in the account being declared in default. The full impact of a default is detailed in section 5.0 Default and 6.2 Interest Rate of the · The interest-free benefit is lost; · Default interest is charged at the CIBC Prime Rate + 1% on the outstanding balance from the date the advance was issued to the date of default; · Default interest is charged at the CIBC Prime Rate + 3% on the outstanding balance from the date of default until repaid in full; · A one-time Default Fee of $25 is charged immediately upon default; · A one-time Collection Service Charge of 3% is applied to the outstanding balance 45 days after the Default Notice; and · Defaulted producers could face an ineligibility period. Refer to section 5.6 of the Terms & Conditions for details. Important Information for Producers CHECKLIST canadian canola growers association 04 10222023/24 Application Check this list to avoid application processing delays. Pages 5Our experienced team makes applying by phone easy. Call ▇-6 outline ▇▇▇-▇▇▇-▇▇▇▇, option 1 to fill out an application or if you have any questions. ✓ when complete Page Title Page # Description Producer Information 7 Business Number is required. Authorized Person – Business partner, spouse, or other person who has your approval to contact CCGA and receive information about your account. Direct Deposit Authorization - If you already use direct deposit with CCGA and you intend to use the pages that ALL applicants must complete. In addition to those pagessame account, you will do not need to complete this section. Actual Seeded 8 For producers applying for an advance on newly planted winter cereals. Pre-Harvest Advance for Winter Cereals Applicants must use crop insurance or GARS as security and must submit Confirmation of Insurance & Coverage Detail for 2022/23. Recent changes to AMPA regulations have added flexibility for coverage that can secure an advance. Applicants wanting to use an alternate form of security should contact CCGA at ▇-▇▇▇-▇▇▇-▇▇▇▇ to determine security eligibility. Related Producers 9 All producers must complete this form. Priority Agreement with 10-11 Have this agreement filled out by your agricultural creditors (input suppliers, a Secured Creditor financial institutions and any other secured creditor). If more than one form is required, make additional copies. Ensure that the section below (1, 2 or 3) creditors have signed this form before sending to CCGA. Assignment of 12-16 Select the crop insurance indemnity form that is relevant for applicable to you, sign it and Indemnity have it witnessed by anyone who is at or past the age of majority. The form must be signed by an authorized person as listed on your crop insurance contract. Crop insurance does not need to sign or review this document. Continuing Joint & 17-18 This form must be completed once by all applicants, and updated any time Several Liability changes are made to a partnership, corporation, or cooperative. If there have been changes, you must also submit a Certificate of Incorporation / Proof of Partnership and Shareholder Ledger. Checklist canadian canola growers association 05 ✓ when complete Page Title Page # Description Alternate Guarantor 19 If your advance is secured by a guarantor, you must complete this form and secure a Letter of Guarantee from your guarantor. Submit a copy of the letter to CCGA with this application. There Waiver of Exemption 20 Saskatchewan applicants must complete this form. - Saskatchewan Declaration of 21-29 This agreement must be signed and dated by the applicant. Producer & Repayment Agreement Form Questions or inquiries: Canadian Canola Growers Association ▇▇▇-▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Winnipeg, Manitoba R3J 3T7 Email applications to: ▇▇▇▇▇@▇▇▇▇.▇▇ Fax: ▇-▇▇▇-▇▇▇-▇▇▇▇ Applying for an advance, help completing forms, account questions: Toll-free ▇-▇▇▇-▇▇▇-▇▇▇▇, option 1 Email ▇▇▇▇▇@▇▇▇▇.▇▇ Questions about repayments or balance, submitting proof of sale documentation: Toll-free ▇-▇▇▇-▇▇▇-▇▇▇▇, option 2 Email ▇▇▇▇▇@▇▇▇▇.▇▇ applicants must complete either #1 or #2 below and all remaining sections are 3 categories of advances, depending on the agricultural product on which you are applying, as well as time of year:required.
Appears in 1 contract
Sources: Advance Payments Program Application and Repayment Agreement