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GSM Credit is a financing support scheme executed by U.S. Department of Agriculture Commodity Credit Corporation (CCC) to improve U.S. agricultural product exports.

Features of GSM Credit

  • GSM credits are extended by the U.S. bank mediating the transaction, with trade and country risks insured by CCC.
  • At credit utilization stage, a Sight Letter of Credit is opened for the importer, and following the loading, the U.S. intermediary bank opens a credit to our Bank and the payment is made to the exporter.
  • Since the credit is actually extended to the Turkish importer although the transaction itself is credited to Türkiye Finans, our bank allocates loan to this company.
  • The credit principal is repaid at the end of annual or (optionally) bi-annual periods.
  • The maximum maturity under GSM scheme is 2 years.
  • In GSM transactions, the total import amount is usually credited over FOB value, except certain type of goods, which are credited over CIF value.
  • The credit scheme does not require payment in advance.

List of Products that You can Import with GSM Credit

  • Wood products
  • Wheat, wheat flour, semolina, rice, unshelled rice
  • Feed seeds, animal feed products, protein nutrition
  • Breeding livestock (including sperms and embryos), breeding fowls, fish
  • Vegetable oil, seeds, tallow, oil, animal oil
  • Dairy products, meats, feeder cattle
  • Cotton, cotton yarn, cotton products, crop seeds
  • Ethyl alcohol