§ 201.26 Expenditure of marine insurance loss payments.
Current through Oct 13, 2026 · Read all of Part 201
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.