[Code of Federal Regulations]
[Title 22, Volume 1]
[Revised as of April 1, 2001]
From the U.S. Government Printing Office via GPO Access
[CITE: 22CFR201.26]

[Page 744]
 
                       TITLE 22--FOREIGN RELATIONS
 
            CHAPTER II--AGENCY FOR INTERNATIONAL DEVELOPMENT
 
PART 201--RULES AND PROCEDURES APPLICABLE TO COMMODITY TRANSACTIONS FINANCED BY USAID--Table of Contents
 
    Subpart C--Procurement Procedures; Responsibilities of Importers
 
Sec. 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.