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Federal regulations · Through 2026-08-25 · Newer source version available

7 CFR 1488.18: Covenant against contingent fees.

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Where this section sits in the code
  1. Title 7—Agriculture
  2. Subtitle B—Regulations of the Department of Agriculture
  3. CHAPTER XIV—COMMODITY CREDIT CORPORATION, DEPARTMENT OF AGRICULTURE
  4. SUBCHAPTER C—EXPORT PROGRAMS
  5. PART 1488—FINANCING OF SALES OF AGRICULTURAL COMMODITIES
  6. Subpart A—Financing of Export Sales of Agricultural Commodities From Private Stocks Under CCC Export Credit Sales Program (GSM-5)

The exporter warrants that no person or selling agency has been employed or retained to solicit or secure the financing agreement on an agreement or understanding for a commission, percentage, brokerage, or contingent fee, except bona fide employees or bona fide established commercial or selling agencies maintained by the exporter for the purpose of securing business. For breach or violation of this warranty, CCC shall have the right, without limitation on any other rights it may have, to annul the financing agreement without liability to CCC. Should the financing agreement be annulled, CCC will promptly consent to the reduction or cancellation or related bank obligations except for amounts outstanding under a financing agreement. Such amounts shall, on demand, be refunded to CCC by the exporter.

Collected 2026-08-27T02:24:01Z. Source file · JSON

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