1. The advance program is designed to assist eligible farm businesses by giving them access to short-term liquidities via a repayable advance.
2. La Financière agricole can advance, to eligible producers and according to the terms it sets, a repayable sum of up to 40% of the contributions calculated in the producer's file, as of November 30, 2012, for the 2011 insurance year for animal productions and the 2010-2011 insurance year for plant productions, for the producer's participation in the Farm Income Stabilization Insurance Program (ASRA). This advance cannot exceed $40,000, however.
Note that for the purposes of calculating the maximum amount of the advance, La Financière agricole considers all advances received by a producer under this program.
3. To be eligible for the advance, the producer must:
4. The producer must repay the advance granted by La Financière agricole, which bears no interest before maturity, in four equal and consecutive installments due on March 31 of each year, starting on March 31, 2014.
However, La Financière agricole reserves the right to withhold, according to the terms it sets, from the amounts payable to the producer under the programs it administers, the annual repayable amount and apply it to repaying the advance.
5. Moreover, the advance paid to the producer becomes fully payable in any of the following cases:
6. Notwithstanding paragraph 1 of Section 3 of this program, the producer, who meets the other eligibility criteria set out therein, is deemed to have participated in the ASRA program and to have, at the end of this program, an insurable volume for the 2011 insurance year for animal productions or 2010-2011 for plant productions, determined based on the insurable volume of the business that gave the producer its rights subject to a transfer of stabilization insurance protection.
7. For loans granted under this program before December 10, 2012, the dates of the first installment and the eligibility of the advance are those set out in sections 4 and 5 of this program.
All requests for the review of a final decision rendered concerning the producer's file must be in writing, specifying the reasons justifying the review, and must be sent to the service centre in charge of the file or handed to a La Financière agricole advisor within ninety (90) days of the date the contested decision was rendered.
Under no circumstances can this program summary prevail over the provisions set out in the program or in any of La Financière agricole's policies.