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Title 22 Part 201 → Subpart C → §201.26

Title 22 → Chapter II → Part 201 → Subpart C → §201.26

Electronic Code of Federal Regulations e-CFR

Title 22 Part 201 → Subpart C → §201.26

e-CFR data is current as of April 2, 2020

Title 22Chapter IIPart 201Subpart C → §201.26


Title 22: Foreign Relations
PART 201—RULES AND PROCEDURES APPLICABLE TO COMMODITY TRANSACTIONS FINANCED BY USAID
Subpart C—Procurement Procedures; Responsibilities of Importers


§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.