GroundRules
7 CFR 1450.4: Violations.
Where this section sits in the code
- Title 7—Agriculture
- Subtitle B—Regulations of the Department of Agriculture
- CHAPTER XIV—COMMODITY CREDIT CORPORATION, DEPARTMENT OF AGRICULTURE
- SUBCHAPTER B—LOANS, PURCHASES, AND OTHER OPERATIONS
- PART 1450—BIOMASS CROP ASSISTANCE PROGRAM (BCAP)
- Subpart A—Common Provisions
(a)(1) If a participant fails to carry out the terms and conditions of a BCAP contract, CCC may terminate the BCAP contract.
(2) If the BCAP contract is terminated by CCC in accordance with this paragraph:
(i) The participant will forfeit all rights to further payments under the contract and must refund all payments previously received, plus interest; and
(ii) The participant must pay liquidated damages to CCC in an amount as specified in the contract.
(b) CCC may reduce a demand for a refund under this section to the extent CCC determines that such relief would be appropriate and would not deter the accomplishment of the purposes of BCAP.
Collected 2026-08-27T02:24:01Z. Source file · JSON