33 CFR 386.12
§ 386.12 Term sheets and approvals.
United States · 33 CFR — Navigation and Navigable Waters · Status: effective
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- Citation
- 33 CFR 386.12, § 386.12 Term sheets and approvals, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/154135
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Full text
(a) The Corps, after review and evaluation of an application, and all other required documents submitted by a prospective borrower, may offer to such prospective borrower a written term sheet and/or a credit agreement, including detailed terms and conditions that must be met.
(b) The issuance of a term sheet, upon execution by the Secretary, does not constitute a commitment by the Secretary to enter into the Loan Agreement or Loan Guarantee Agreement. Execution of the Loan Agreement or Loan Guarantee Agreement represents obligation by the Secretary.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.