International Trade committee  The companies will receive the money from EDC anywhere between four and six weeks after they've completed the documentation EDC requires.

International Trade committee  I think we're going to see completion of paperwork starting any time now, and into the next month or two. So there'll be not just one payment by EDC to everybody; there will be tranches done. As companies complete the paperwork, they will be refunded their moneys.

International Trade committee  Some companies might see their money conceivably any time soon with respect to.... As soon as they've registered for EDC, and that's even before the implementation of the agreement, then the work is already started with their documentation. Moneys could therefore be flowing any time, theoretically, from today until whenever the documentation is finished by the last company that allows EDC to pay.

International Trade committee  That's right.

International Trade committee  I wouldn't want to anticipate each company's consideration of which way to go—whether they go the EDC or the special charge route.

International Trade committee  With respect to the special charge, there is reference, as I think we discussed at the last meeting, that it has to be in place before a special charge can be collected.

International Trade committee  Yes. I might add that I think it's EDC's intention not to wait for that timeframe to begin refunding money. When they have completed documentation to allow the refund of money, the process will begin as there are companies to refund to. As we've spoken about, the theoretical time for that is any time from now up to when the last company finishes the documentation.

International Trade committee  That's right, and that's an illogical assumption. Even though not asked, I'll undertake to provide more information to the committee with respect to where the process is, and to Mr. Julian's question as well, about which companies have finished. I just don't have that information from EDC.

International Trade committee  No, because under the EDC process, the government is putting forward the money to these companies before the government receives the money from the U.S. side. Therefore, when the government is doing this, when EDC is doing this as an agent of the government, they're receiving permission from the companies that are in their program to pay back approximately 82% of all refunds owing to them directly to the company and the approximately 18% that's retained for the U.S. interest side.

International Trade committee  That's right, because there are liability questions about paying money into a company that may have liens on its assets and receivables. There are questions like that. What I've said in our discussion to date is that there are some companies now that are very close to completion, and there may in fact be some that have completed.

International Trade committee  With respect to the EDC program, the government is paying its own money to the Canadian companies in advance of the money from the United States, to expedite those companies receiving that money so that it can be used by them for whatever they want to use it for.

International Trade committee  We've narrowed down the possible amendment considerably. All I can say at this point is the discussions are still ongoing. Thank you very much for informing us that you have an amendment as well, in case those negotiations don't produce the desired result. We'll continue to work with the....

International Trade committee  Thank you very much. Let me first clarify that what we're speaking about is that companies have registered for the program, but after registration there is a lot of documentation that has to be submitted by the companies. Therefore, one of the elements, for example, is a search that has to be done on the company as to whether there are liens or securities on the company.

International Trade committee  Could I ask my colleagues in the CRA section to respond to the first question?

International Trade committee  There was none that we're aware of. It was the one day in terms of the transition. I'm not sure if we've had any companies.... I'll ask Mr. Seebach.