GroundRules
22 CFR 201.26: Expenditure of marine insurance loss payments.
Where this section sits in the code
- Title 22—Foreign Relations
- CHAPTER II—AGENCY FOR INTERNATIONAL DEVELOPMENT
- PART 201—RULES AND PROCEDURES APPLICABLE TO COMMODITY TRANSACTIONS FINANCED BY USAID
- Subpart C—Procurement Procedures; Responsibilities of Importers
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.
Collected 2026-08-27T02:24:49Z. Source file · JSON