Advances must be repaid on or before September 30th of the end of the production period. Failure to do so will result in the producer’s account being declared in default. If an account is placed into default, the producer will be responsible to pay:
1. the outstanding amount of the advance
2. any interest charges on the outstanding advance calculated from the day the advance was issued until the advance is repaid
3. costs incurred by the Administrator to recover the outstanding advance (a standard rate of 5% will be applied to the outstanding balance as of 45 days after default), interest charges and applicable legal costs.