46 C.F.R. § 298.25 Excess interest or other consideration.
Title 46 - Shipping
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.
Title 46: Shipping
PART 298—OBLIGATION GUARANTEES
Subpart C—Guarantees
§ 298.25 Excess interest or other consideration.
