22 CFR 201.26
§ 201.26 Expenditure of marine insurance loss payments.
United States · 22 CFR — Foreign Relations · Status: effective
Cite this
- Citation
- 22 CFR 201.26, § 201.26 Expenditure of marine insurance loss payments, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/94041
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Full text
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.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.