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Code of Federal Regulations (Last Updated: July 5, 2024) |
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Title 7 - Agriculture |
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Subtitle B - Regulations of the Department of Agriculture |
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Chapter XV - Foreign Agricultural Service, Department of Agriculture |
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Part 1550 - PROGRAMS TO HELP DEVELOP FOREIGN MARKETS FOR AGRICULTURAL COMMODITIES |
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Subpart D - Contributions and Reimbursements |
§ 1550.53 - What are the requirements for documenting and reporting contributions?
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(a) Each claimed contribution must be documented by the Cooperator, showing the method of computing non-cash contributions, salaries, and travel expenses.
(b) Each Cooperator must keep records of the methods used to compute the value of non-cash contributions, and
(1) Copies of invoices or receipts for expenses paid by the U.S. industry and not reimbursed by the Cooperator for the joint activity; or
(2) If invoices are not available, an itemized statement from the U.S. industry as to what costs it incurred pursuant to the joint activity; or
(3) If neither of the foregoing is available, a statement from the U.S. industry as to what goods and services it provided; or
(4) If none of the foregoing are available, a memo to the files of the U.S.
Cooperator's estimate of what contributions were made by the U.S. industry, item by item, and the method used to assign a value to each. (c) Each Cooperator must report its contributions as described in § 1550.70 (a).