TRADE RECEIVABLES SECURITIZATION PROGRAM	9 Months Ended
Sep. 30, 2016
TRADE RECEIVABLES SECURITIZATION PROGRAM
TRADE RECEIVABLES SECURITIZATION PROGRAM	12. TRADE RECEIVABLES SECURITIZATION PROGRAM On May 26, 2016, Bunge and certain of its subsidiaries renewed and amended its $700 million trade receivables securitization program (the “Program”). Bunge and certain of its subsidiaries participate in the Program with a financial institution, as administrative agent, and certain commercial paper conduit purchasers and committed purchasers (collectively, the “Purchasers”) that provides for funding of up to $700 million against receivables sold into the Program. As of September 30, 2016 and December 31, 2015, $604 million and $524 million, respectively, of receivables sold under the Program for which cash has not been received, were derecognized from Bunge’s condensed consolidated balance sheets. Proceeds received in cash related to transfers of receivables under the Program totaled $6,439 million and $7,431 million for the nine months ended September 30, 2016 and 2015, respectively. In addition, cash collections from customers on receivables previously sold were $6,461 million and $7,540 million, respectively. As this is a revolving facility, cash collections from customers are reinvested to fund new receivable sales. Gross receivables sold under the Program for the nine months ended September 30, 2016 and 2015, were $6,624 million and $7,609 million, respectively. These sales resulted in discounts of $1 million and $2 million for the three months ended September 30, 2016 and 2015, respectively, and $4 million for the nine months ended September 30, 2016 and 2015, which were included in selling, general and administrative expenses in the condensed consolidated statements of income. Servicing fees under the Program were not significant in any period. Bunge’s risk of loss following the sale of the trade receivables is limited to the deferred purchase price (“DPP”), which at September 30, 2016 and December 31, 2015 had a fair value of $104 million and $79 million, respectively, and is included in other current assets in the condensed consolidated balance sheets (see Note 6). The DPP will be repaid in cash as receivables are collected, generally within 30 days. Delinquencies and credit losses on trade receivables sold under the Program during the three and nine months ended September 30, 2016 and 2015, were insignificant. Bunge has reflected all cash flows under the Program as operating cash flows in the condensed consolidated statements of cash flows.

TRADE RECEIVABLES SECURITIZATION PROGRAM

9 Months Ended

Sep. 30, 2016

TRADE RECEIVABLES SECURITIZATION PROGRAM

TRADE RECEIVABLES SECURITIZATION PROGRAM

12. TRADE RECEIVABLES SECURITIZATION PROGRAM

On May 26, 2016, Bunge and certain of its subsidiaries renewed and amended its $700 million trade receivables securitization program (the “Program”). Bunge and certain of its subsidiaries participate in the Program with a financial institution, as administrative agent, and certain commercial paper conduit purchasers and committed purchasers (collectively, the “Purchasers”) that provides for funding of up to $700 million against receivables sold into the Program.

As of September 30, 2016 and December 31, 2015, $604 million and $524 million, respectively, of receivables sold under the Program for which cash has not been received, were derecognized from Bunge’s condensed consolidated balance sheets. Proceeds received in cash related to transfers of receivables under the Program totaled $6,439 million and $7,431 million for the nine months ended September 30, 2016 and 2015, respectively. In addition, cash collections from customers on receivables previously sold were $6,461 million and $7,540 million, respectively. As this is a revolving facility, cash collections from customers are reinvested to fund new receivable sales. Gross receivables sold under the Program for the nine months ended September 30, 2016 and 2015, were $6,624 million and $7,609 million, respectively. These sales resulted in discounts of $1 million and $2 million for the three months ended September 30, 2016 and 2015, respectively, and $4 million for the nine months ended September 30, 2016 and 2015, which were included in selling, general and administrative expenses in the condensed consolidated statements of income. Servicing fees under the Program were not significant in any period.

Bunge’s risk of loss following the sale of the trade receivables is limited to the deferred purchase price (“DPP”), which at September 30, 2016 and December 31, 2015 had a fair value of $104 million and $79 million, respectively, and is included in other current assets in the condensed consolidated balance sheets (see Note 6). The DPP will be repaid in cash as receivables are collected, generally within 30 days. Delinquencies and credit losses on trade receivables sold under the Program during the three and nine months ended September 30, 2016 and 2015, were insignificant. Bunge has reflected all cash flows under the Program as operating cash flows in the condensed consolidated statements of cash flows.