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How to Repay
When should I repay?
Both the Advance Payments Program (APP) and the Commodity Loan Program (CLP) are designed to provide producers worry free advances with repayment due as you sell your commodities.
Every time you sell a portion of a commodity listed on your advance, you also must repay a portion of your loan.
Repayments must be made to ACC within 30 calendar days of receiving payment for the sale with the entire balance due prior to the end of the production period for the program year.
How do I repay?
Repayments can be made using one of the following methods:
Online repayments may be made through your financial institution by selecting the payment company “AGRICULTURAL CREDIT CORPORATION” as the bill payee and use your ACC No as your account number.
A pre-authorized payment schedule is required under the APP for all non-storable commodities and all continuous flow livestock loans at time of application.
You may also call, email, or fax our Repayment Department a request to set up a pre-authorized payment as repayment toward your loan.
- To request repayment by phone, customers may contact us at 1-888-278-8807.
- Email your repayment request to repayment@agcreditcorp.ca.
- Fax your repayment request to 519-800-1306.
You may mail a cheque to ACC referencing your ACC No, program year, and commodity for repayment.
All cheques should be sent to the ACC Repayment Lockbox:
AGRICULTURAL CREDIT CORPORATION
C/O T10535 PO BOX 4388, STN A
TORONTO, ON M5W 3S1
Proof of Sale (APP only)
Proof of Sale refers to the documentation provided by the buyer confirming the purchase of a commodity.
Examples of Proof of Sale that may be accepted are copies of sales slips, bills of lading, sales reports from an auction administrator, sales agency, etc., which identify the date of sale and the quantity of agricultural products sold.
Proof of Sale (receipts) from crop sales and livestock sales are required by Agriculture and Agri-Food Canada under terms of the legislation to verify date of sales and amount of product sold used to repay the loan.
All APP loan payments for storable commodities must be accompanied by proof of sale after January 31st , and repayment for standard livestock must always be accompanied by proof of sale.
Proof of Sale should be submitted at the same time as repayments are made/requested.
Proof of Sale may be submitted to the ACC Repayment Department by email or fax:
- Email repayment@agcreditcorp.ca.
- Fax 519-800-1306.
Proof of Sale documents must include the following details:
- Date(s) of sale(s)
- Your name (including contact information)
- Name of Buyer (including contact information)
- Type of agricultural product sold
- Quantity of agricultural product sold
- Monies received for sales of agricultural product
Late Repayment
If a producer’s Proof of Sale reflects the repayment was not made within 30 calendar days of the commodity sale, Agriculture and Agri-Food Canada requires ACC charge the producer a Penalty for Late Repayment at the rate outlined under the Terms and Conditions of the Repayment Agreement from the due date of the repayment (30 days from the date on which the producer received payment for their product) to the repayment date.
Repayment without Proof of Sale
If a producer does not provide Proof of Sale for a repayment it is considered to be a Repayment without Proof of Sale and Agriculture and Agri-Food Canada requires ACC charge the producer a Penalty at the rate outlined under the Terms and Conditions of the Repayment Agreement from the day the advance was issued to the day the repayment was made.
