6/7/2011 - Farm Service Agency announces the revision of the Uniform Grain and Rice Storage Agreement
Farm Service Agency announced that on June 7, 2011, a revision to the Uniform Grain and Rice Storage Agreement (UGRSA, or Agreement) was finalized. The Agreement was changed to bolster financial requirements, incorporate several addendums, and update other requirements to better reflect current industry practices. Storage agreements have been used in one form or another since 1939 to protect CCC’s interest in grain owned by the Commodity Credit Corporation (CCC) or pledged as collateral for CCC loan. The revised UGRSA strengthens financial requirements, removes outdated references to terminal warehouses, adds specific commodities and references to current regulations at 7 CFR Parts 1421 and 7 CFR 1423, and incorporates certain Homeland Security requirements into the document.
A letter will be sent within the next week to each warehouse operator that currently has a UGRSA. The letter identifies some of the major changes to the UGRSA and provides information on entering into the revised Agreement. Warehouse operators agreeing to the revised UGRSA are requested to submit the required documents as soon as possible, but not later than August 10, 2011.
All warehouse operators are invited to access the revised Agreement online via the DACO web site at http://www.fsa.usda.gov/FSA/webapp?area=home&subject=coop&topic=was-ug
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