Effective July 1, 2012, requirements of the Grain Financial Protection Program (GFPP) will be updated to align with modernized regulations under the
Grains Act and the
Farm Products Payments Act. Initiated and supported by industry, the regulations reflect current practices.
Updates to Grain Financial Protection Program (GFPP) include:
- Allowing of deferred payments of any duration, with reduced coverage as the deferral period increases
- Extended payment timelines for dealers on sales from storage
- Reduced initial percentage payment amount from dealers to producers on basis contracts
- Increased maximum coverage for canola and soybean producers to be consistent with grain corn and wheat.
For more information about these program changes, visit the
Grain Financial Protection Program section of agricorp.com.
