Regulations last checked for updates: Nov 22, 2024

Title 22 - Foreign Relations last revised: Oct 28, 2024
§ 201.26 - Expenditure of marine insurance loss payments.

Unless otherwise authorized by USAID, any marine insurance loss payment under a marine insurance policy financed pursuant to this part 201 received by the importer, either directly or indirectly, shall be used by the importer as follows:

(a) To procure from a source specified in the implementing document which originally provided the USAID funds, commodities which have been designated by USAID to the borrower/grantee as eligible for USAID financing; or

(b) To cover the cost of repairs to commodities damaged during shipment.

authority: 22 U.S.C. 2381.
source: 55 FR 34232, Aug. 22, 1990, unless otherwise noted.
cite as: 22 CFR 201.26