In general, a payment made in the form of CCC-owned commodities (or title to them) in lieu of cash This form of payment was widely used during the 1980s for paid diversion, deficiency payments, and export subsidy payments as a means of disposing of or avoiding the acquisition of commodity inventories PIK certificates entitled the holder to specific quantity of commodities
Refers to an alternative to cash payments to producers of various commodities under the U S Department of Agriculture acreage control program authorized by Congress in 1985 The payments consisted of generic certificates which could be exchanged for commodities held in government warehouses or redeemed for equivalent monetary value