The Farm Improvement and Marketing Cooperatives
Loans Act Regulations, state the procedures to be followed and conditions
to be met in the granting and administrating of loans as well as
submission and substantiation of claims for loss for loans issued
under FIMCLA.
The Act and the Regulations collectively
are generally referred to as the Farm Improvement and Marketing
Cooperative Loans Program. Guidelines have been designed to assist
lenders in the interpretation of the Act and the Regulations, and
in the delivery of this program. If discrepancy arises over the
meaning or interpretation of items, the legal interpretation of
the Act and Regulations will take precedence.
Lenders are expected to take the same care
in making FIMCLA loans as would be taken in conducting ordinary
business. The program has been designed to enable lenders to incorporate
its administration into their normal routine of business while providing
government guaranteed loans to farmers and farm cooperatives.
The information provided relating to the
Farm Improvement and Marketing Cooperatives Loans Act is collected
for Agriculture and Agri-Food Canada under the authority of the
Farm Improvement and Marketing Cooperatives Loans Act for the purpose
of an efficient management of the program. Any personal information
provided to Agriculture and Agri-Food Canada will be protected under
the provisions of the Privacy Act and will be stored in Personal
Information Bank AGR/P-PU-165. The Collection Registration Number
is AGR/POL-465-02960. Other information may be accessible or protected
as required under the provisions of the Access to Information Act.
Where loan officers are unsure whether a
given situation is covered by the Act, Regulations, or Guidelines,
they should seek clarification and direction from their head office,
regional office or their central, as the case may be. If, after
reading this guide, you need more information, please contact the
FIMCLA Administration. Program Officers are available to provide
advance rulings on the eligibility of a loan applicant upon receipt
of a letter by facsimile or mail describing the circumstances.
Farm Improvement and Marketing Cooperative Loans Act
Administration
