GSM-102 Intermediate-Term Export Credit Guarantee Program.: An Export Credit Guarantee Program that covers credit terms up to 3 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.

 

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GSM-102 Intermediate-Term Export Credit Guarantee Program.: An Export Credit Guarantee Program that covers credit terms up to 3 years. The program underwrites credit extended by the private banking sector to approved foreign banks using dollar-denomi . . . View Full Definition

Guaranteed Investment Contract (GIC): A guaranteed investment contract, or GIC (pronounced gick), promises to preserve your principal and to provide a fixed rate of return when you begin to withdraw from the contract, typically . . . View Full Definition

Guaranteed Issue: An insurance policy provision under which all eligible persons who apply for insurance coverage and who meet certain conditions are automatically issued an insurance policy.

Guaranteed Loan: A pledge to cover the payment of debt or to perform some obligation if the person liable fails to perform. When a third party guarantees a loan, it promises to pay in the event of a default . . . View Full Definition