Compliance — The Little Venice Institute LLC, U.S. Export Management Company

The facts below are published for USDA FAS analysts reviewing exporter qualification, and for banks, buyers, and U.S. suppliers.

Statements

These identifiers are published for review. Publishing them is not a statement that the Commodity Credit Corporation has qualified the company or issued a guarantee.
The company is applying for GSM-102 exporter qualification. The application is pending. Qualification, if granted, is a decision of the Commodity Credit Corporation.
The Little Venice Institute LLC is not affiliated with, is not endorsed by, and is not an agent of USDA, the Foreign Agricultural Service, or the Commodity Credit Corporation.
Florida LLC, active; registered in SAM.gov.
The company is an export management company. It does not manufacture, it does not hold inventory, and it does not issue letters of credit, payment guarantees, or financing.
When a GSM-102 guarantee is issued, the Commodity Credit Corporation provides it. It covers most of the principal owed to the U.S. lender against the foreign bank’s default.
A GSM-102 transaction still has to meet the program regulation and the requirements of a foreign bank on the CCC-approved foreign bank list.
Shipments remain subject to U.S. law that applies to the parties and the goods, and to the contract and the letter of credit.
The company will answer qualification questions sent to contact@littleveniceinstitute.com.

Before a transaction with a Venezuelan counterparty proceeds, the company screens that counterparty under U.S. sanctions administered by the Office of Foreign Assets Control. An unresolved question stops the transaction.
The company conducts know-your-customer review of the buyer and of the buyer’s bank, including identity and authority to enter the sale.
A transaction proceeds only through a foreign bank on the CCC-approved foreign bank list. The company does not proceed through a bank that is off that list.
This screening does not replace the rules of the Office of Foreign Assets Control, the Commodity Credit Corporation, or the issuing bank. The company is not affiliated with those authorities.