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Performance Financing® solutions, powered by Farm Credit Canada and Cargill, provide more than great financing, they give you the financial freedom and control you need to run your farm business successfully. And for canola growers looking for the payment flexibility to match your Specialty Canola delivery needs, there’s no beating Canola NetworkPlan.TM
Canola NetworkPlan is an “Specialty Canola friendly” enhancement to your existing FoundationPlanTM or Flex25PlanTM that provides: • Repayment options that extend the payment date to match your crop input purchases with the cash flow generated by your Specialty Canola. • The opportunity to secure Specialty Canola premiums by accessing later delivery periods. • Financial value through greater cash flow flexibility and competitive financing rates.
Control, Flexibility, Peace of Mind.
How It Works:If you have entered into a 2013 Specialty Canola contract with delivery during March 2014 to September 2014, Canola NetworkPlan allows you to defer your February 15, 2014 Performance Financing crop input payment to the corresponding month of your contracted delivery (as acknowledged in your Specialty Canola Seed Purchase Agreement).
For example, if you have a delivery contract for August 2014, you can defer your associated crop input payment (from your approved FoundationPlan or Flex25Plan contract) to the month of August 2014* by:
1. Having executed an Specialty Canola Grower Contract with delivery during March 2014 to September 2014.
2. Submitting harvest samples before the harvest sample deadline (meeting all acceptable oil quality and grades as per your Specialty Canola Grower Contract).
3. Having sufficient tonnage accepted (as recognized on the Specialty Canola Quality Report).
4. Completing a Canola NetworkPlan due date extension application prior to January 31, 2014. The portion of your loan eligible for a Canola NetworkPlan due date extension shall be determined as follows:
• $350 per Fixed Tonne** X Total Fixed Tonnes contracted in the March 2014 through September 2014 Specialty Canola Grower Contract period.
• Financing charge is Prime + 3.25% compounded quarterly.
*Final due date is October 31, 2014 regardless whether delivery has been made or accepted by Cargill.
Payment will be deducted at point of delivery by Cargill and directed to FCC to reduce the Canola
NetworkPlan outstanding balance.
**The amount per Fixed Tonne will be adjusted annually by FCC on or about August 15 to reflect current
canola production costs and market value, as determined by FCC in its sole discretion.
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For more information, drop by the nearest Cargill location, contact your Cargill representative or call 1-888-855-8558.