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LDP Processing LSA Training July 24-26, 2007

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LDP Processing. LSA Training July 24-26, 2007. LDP Workflow. Obtain from producer: FSA-211 if applicable required information for CCC-633 EZ production evidence (7-CN, Part 5) beneficial interest information (22-CN, Par. 28) Review beneficial interest Begin CCC 770 LSA checklist - PowerPoint PPT Presentation

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Page 1: LDP Processing

LDP Processing

LSA Training

July 24-26, 2007

Page 2: LDP Processing

LDP Workflow

• Obtain from producer:

– FSA-211 if applicable

– required information for CCC-633 EZ

– production evidence (7-CN, Part 5)

– beneficial interest information (22-CN, Par. 28)

• Review beneficial interest

• Begin CCC 770 LSA checklist

• Make eligibility determination

• Determine sufficient payment limitation

Page 3: LDP Processing

LDP Workflow

• Complete CCC Cotton AA-1

• Submit D transaction to ACRS

• Receive funds

• Issue funds to producer within 3 days

• File and deliver LDP documents

• Submit Name and Address trailer record

• Submit IRS trailer record

Page 4: LDP Processing

CCC-633 EZ

• CCC-Cotton AA obsolete

• All LDP applications taken on CCC-633 EZ (dated 06-07-06)

• Cotton LDP’s require Page 1 and Page 3

– Page 1 – LDP Agreement

• Terms and conditions

• statement of intentions to apply for LDP

– Page 3 – request for cotton LDP

Page 5: LDP Processing

CCC-633 EZ-Page 1

• Only statement of intention to obtain LDP on all eligible production

• Must be submitted before beneficial interest is lost

• Enables producer to request LDP after beneficial interest is lost

• Complete following items:

– Producer name and address, phone number, last 4 digits of ID number and signature/date

– Crop year

– LSA signature, title, date, name and address

Page 6: LDP Processing

CCC-633 EZ – Page 1

Page 7: LDP Processing

CCC-633 EZ – Page 1

Page 8: LDP Processing

CCC-633 EZ – Page 3

• Application for any type cotton LDP

– Irrevocable module Lock-In

– Gin-Direct

– Irrevocable Post-Ginning

– Lost Beneficial Interest

• Will not be approved unless Page 1 is filed before

loss of beneficial interest

Page 9: LDP Processing

CCC-633 EZ – Page 3

Page 10: LDP Processing

Irrevocable Module Lock-In LDP’s

• Harvested cotton stored in modules that has not been ginned

• Must have beneficial interest

• Must be requested on CCC-633 EZ, Page 3 before ginning

• Identified by gin-supplied trailer or module numbers

• Modules are to be spot-checked to verify existence

Page 11: LDP Processing

Irrevocable Module Lock-In LDP’s

• Payments processed after producer submits bale list from module identified on the original request.

• Must submit before final loan availability date.

• Use the AWP rate on the date a completed page 3 is submitted

• Cannot be revised or cancelled

Page 12: LDP Processing

Irrevocable Module Lock-In LDP’s

Page 13: LDP Processing

Module Spotchecks

• Spotcheck no less than 2.5% of requests (not modules) monthly

• Document results on CCC-Cotton AA-2

• Retain results indefinitely

Page 14: LDP Processing

CCC Cotton AA-2

Page 15: LDP Processing

Gin Direct LDP’s

• Must be requested on CCC-633 EZ, Page 3 before ginning

• Must have beneficial interest

• Rate in effect on date of ginning

• Production must be identified - all bales; specific number of bales from a farm; specific farms

• Can be revised or terminated under certain circumstances

Page 16: LDP Processing

Gin Direct LDP’s

Page 17: LDP Processing

Irrevocable Post-Ginning LDP’s

• Ginned cotton

• Requested after ginning and before loss of beneficial interest

• Rate based on the date a completed application is submitted

• Identified by bale list or file sequence number of a bale list

• Cannot be revised or cancelled

Page 18: LDP Processing

Irrevocable Post-Ginning LDP’s

Page 19: LDP Processing

Lost Beneficial Interest LDP’s

• Requested after ginning and after loss of beneficial interest

• Paid at rate in effect on date beneficial interest was lost

• Must provide acceptable documentation of date BI was lost

• Identified by bale list or file sequence number

• Require a 633 EZ page 1 be submitted prior to loss of beneficial interest

Page 20: LDP Processing

Lost Beneficial Interest LDP’s

Page 21: LDP Processing

Producer Signature

Page 22: LDP Processing

Additional Producer Signatures

Page 23: LDP Processing

LDP Approval

Page 24: LDP Processing

CCC-633 EZ Distribution

Approved CCC-633 EZ:• Maintain original in LSA file

• Provide copy to producer

Page 25: LDP Processing

Distribution Calculations

45 Bale LDP Request -