In the United States, Generic certificates were commodity certificates used by the Commodity Credit Corporation (CCC) in the 1980s to meet payment obligations and simultaneously dispose of commodity inventories. Farmers paid with generic certificates could trade them for commodities owned and stored by the CCC.
References
This article incorporates
public domain material from Jasper Womach.
Report for Congress: Agriculture: A Glossary of Terms, Programs, and Laws, 2005 Edition (PDF).
Congressional Research Service.
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