§ 1427.1208 - Payment.

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Payments under this subpart will be determined by multiplying:

The payment rate, determined under § 1427.127, by

The net weight (gross weight minus the weight of bagging and ties) determined under paragraph (b) of this section, of eligible ELS cotton bales that an eligible domestic user opens or an eligible exporter exports during the Friday through Thursday period following a week in which a payment rate is established.

For the purposes of this subpart, the net weight will be based upon:

For domestic users, the weight on which settlement for payment of the ELS cotton was based (landed mill weight);

For exporters, the shipping warehouse weight or the gin weight if the ELS cotton was not placed in a warehouse, of the eligible cotton unless the exporter obtains and pays the cost of having all the bales in the shipment re-weighed by a licensed weigher and furnishes a copy of the certified weights.

For the purposes of this subpart, eligible ELS cotton will be considered:

Consumed by the domestic user on the date the bale is opened for consumption; and

Exported by the exporter on the date that CCC determines is the date on which the cotton is shipped for export.

Payments under this subpart will be made available upon application for payment and submission of supporting documentation, as required by this subpart, CCC instructions, and the ELS Cotton Domestic User/Exporter Agreement.

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§ 1427.1207 - Payment rate.

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