[Code of Federal Regulations]
[Title 7, Volume 10]
[Revised as of January 1, 2007]
From the U.S. Government Printing Office via GPO Access
[CITE: 7CFR1427.100]

[Page 502]
 
                          TITLE 7--AGRICULTURE
 
  CHAPTER XIV--COMMODITY CREDIT CORPORATION, DEPARTMENT OF AGRICULTURE
 
PART 1427_COTTON--Table of Contents
 
           Subpart C_Upland Cotton User Marketing Certificates
 
Sec.  1427.100  Applicability.

    Source: 67 FR 64459, Oct. 18, 2002, unless otherwise noted.


    (a) Regulations in this subpart are applicable during the period 
beginning August 1, 1991, and ending July 31, 2008. These regulations 
set forth the terms and conditions under which CCC shall make payments, 
in the form of commodity certificates or cash, to eligible domestic 
users and exporters of upland cotton who entered into an Upland Cotton 
Domestic User/Exporter Agreement with CCC to participate in the upland 
cotton user marketing certificate program under section 1207 of the Farm 
Security and Rural Investment Act of 2002.
    (b) During the period beginning August 1, 1991, and ending July 31, 
2008, CCC shall issue marketing certificates or cash payments to 
domestic users and exporters under this subpart in a week following a 
consecutive 4-week period in which:
    (1) The Friday through Thursday average price quotation for the 
lowest-priced United States growth, as quoted for Middling one and three 
thirty-seconds inch (M 1\3/32\ inch) cotton, delivered C.I.F. (cost, 
insurance and freight) northern Europe, (U.S. Northern Europe (USNE) 
price) exceeds the Friday through Thursday average price quotation for 
the five lowest-priced growths, as quoted for M 1\3/32\-inch cotton, 
delivered C.I.F. northern Europe, (Northern Europe (NE) price) by:
    (i) During the period beginning May 15, 2002, and ending July 31, 
2006, more than zero; and
    (ii) During the period beginning August 1, 2006, and ending July 31, 
2008, more than 1.25 cents per pound;
    (2) The adjusted world price (AWP) for upland cotton, determined 
under Sec.  1427.25, does not exceed 134 percent of the crop loan level 
for upland cotton.
    (c) Additional terms and conditions are in the Upland Cotton 
Domestic User/Exporter Agreement which the domestic user or exporter 
must execute in order to receive such payments.
    (d) CCC shall prescribe forms used in administering the upland 
cotton user marketing certificate program.