GroundRules
46 CFR 298.25: Excess interest or other consideration.
Where this section sits in the code
- Title 46—Shipping
- CHAPTER II—MARITIME ADMINISTRATION, DEPARTMENT OF TRANSPORTATION
- SUBCHAPTER D—VESSEL FINANCING ASSISTANCE
- PART 298—OBLIGATION GUARANTEES
- Subpart C—Guarantees
We shall not execute Guarantees if any agreement in the Documentation directly or indirectly provides for:
(a) The payment to an Obligee of interest, or other compensation for services which have not been performed, in a manner that such compensation or payment is being provided as interest in excess of the rate approved by us; or
(b) Grants of security to an Obligee in addition to the Guarantees.
Collected 2026-08-27T02:26:22Z. Source file · JSON