Code of Federal Regulations (Last Updated: July 5, 2024) |
Title 22 - Foreign Relations |
Chapter II - Agency for International Development |
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.
Latest version.
-
§ 201.26 Expenditure of marine insurance loss payments.
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.