22 C.F.R. § 201.26 Expenditure of marine insurance loss payments.
Title 22 - Foreign Relations
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.
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.
