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TeachMeFinance.com - explain GSM-103, Short-Term Export Credit Guarantee Program GSM-103, Short-Term Export Credit Guarantee Program The term 'GSM-103, Short-Term Export Credit Guarantee Program ' as it applies to the area of agriculture can be defined as ' An Export Credit Guarantee Program that covers credit terms up to 10 years. The program underwrites credit extended by the private banking sector to approved foreign banks using dollar-denominated, irrevocable letters of credit to pay for U.S.-grown food and agricultural products sold to foreign buyers. The CCC guarantee typically covers 98% of principal and a portion of interest'. Previous 5 Terms: Grubbing gruine grysbok GSM GSM-102, Intermediate-Term Export Credit Guarantee Program. Next 5 Terms: GSM-5, Direct Export Credit Program GSP GSP GST GSTY About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005-2011 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional medical, legal or financial advice. Information presented at TeachMeFinance.com is provided on an "AS-IS" basis. Please read the disclaimer for details.