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Code of Federal Regulations (Last Updated: July 5, 2024) |
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Title 22 - Foreign Relations |
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Chapter II - Agency for International Development |
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Part 201 - Rules and Procedures Applicable to Commodity Transactions Financed by USAID |
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Subpart E - General Provisions Relating to USAID Financing of Commodities and Commodity-Related Services |
§ 201.47 - Use of marine insurance loss proceeds.
Latest version.
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§ 201.47 Use of marine insurance loss proceeds.
The borrower/grantee shall pay promptly to USAID a sum equal to the proceeds received by an importer or its assignee in settlement of a marine insurance claim under a marine insurance policy financed pursuant to this part 201, if such proceeds are not expended in the manner provided by § 201.26 within a reasonable period after receipt by the importer.