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7 U.S.C. § 5622 — Export credit guarantee program
Federal law — U.S. Code and appendices · legal_authorities
**(a) Short-term credit guarantees** The Commodity Credit Corporation may guarantee the repayment of credit made available to finance commercial export sales of agricultural commodities, including processed agricultural products and high-value agricultural products, from privately owned stocks on credit terms that do not exceed a 24-month period.
**(b) Purpose of program** The Commodity Credit Corporation may use export credit guarantees authorized under this section—
(1) to increase exports of agricultural commodities;
(2) to compete against foreign agricultural exports;
(3) to assist countries in meeting their food and fiber needs, particularly—
(A) developing countries; and
(B) countries that are emerging markets that have committed to carry out, or are carrying out, policies that promote economic freedom, private domestic production of food commodities for domestic consumption, and the creation and expansion of efficient domestic markets for the purchase and sale of agricultural commodities; and
(4) for such other purposes as the Secretary determines appropriate.
**(c) Restrictions on use of credit guarantees** Export credit guarantees authorized by this section shall not be used for foreign aid, foreign policy, or debt rescheduling purposes. The provisions of the cargo preference laws shall not apply to export sales with respect to which credit is guaranteed under this section.
**(d) Restrictions** The Commodity Credit Corporation shall not make credit guarantees available in connection with sales of agricultural commodities to any obligor that the Secretary determines cannot adequately service the debt associated with such sale.
**(e) Terms** Export credit guarantees issued pursuant to this section shall contain such terms and conditions as the Commo
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Source file: Laws/federal/codes/united-states-code/title-7/section-5622-export-credit-guarantee-program--fad6bad4f6.md
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Source location: Title 7, Chapter 87, § 5622; chapter-087-export-promotion.md
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**(a) Short-term credit guarantees** The Commodity Credit Corporation may guarantee the repayment of credit made available to finance commercial export sales of agricultural commodities, including processed agricultural products and high-value agricultural products, from privately owned stocks on credit terms that do not exceed a 24-month period.
**(b) Purpose of program** The Commodity Credit Corporation may use export credit guarantees authorized under this section—
(1) to increase exports of agricultural commodities;
(2) to compete against foreign agricultural exports;
(3) to assist countries in meeting their food and fiber needs, particularly—
(A) developing countries; and
(B) countries that are emerging markets that have committed to carry out, or are carrying out, policies that promote economic freedom, private domestic production of food commodities for domestic consumption, and the creation and expansion of efficient domestic markets for the purchase and sale of agricultural commodities; and
(4) for such other purposes as the Secretary determines appropriate.
**(c) Restrictions on use of credit guarantees** Export credit guarantees authorized by this section shall not be used for foreign aid, foreign policy, or debt rescheduling purposes. The provisions of the cargo preference laws shall not apply to export sales with respect to which credit is guaranteed under this section.
**(d) Restrictions** The Commodity Credit Corporation shall not make credit guarantees available in connection with sales of agricultural commodities to any obligor that the Secretary determines cannot adequately service the debt associated with such sale.
**(e) Terms** Export credit guarantees issued pursuant to this section shall contain such terms and conditions as the Commodity Credit Corporation determines to be necessary.
**(f) United States agricultural commodities** The Commodity Credit Corporation shall finance or guarantee under this section only United States agricultural commodities.
**(g) Ineligibility of financial institutions**
(1) **In general** — A financial institution shall be ineligible to receive an assignment of a credit guarantee issued by the Commodity Credit Corporation under this section if it is determined by the Corporation, at the time of the assignment, that such financial institution—
(A) is the financial institution issuing the letter of credit or a subsidiary of such institution; or
(B) is owned or controlled by an entity that owns or controls that financial institution issuing the letter of credit.
(2) **Third country banks** — The Commodity Credit Corporation may guarantee under subsection (a) the repayment of credit made available to finance an export sale irrespective of whether the obligor is located in the country to which the export sale is destined.
**(h) Conditions for fish and processed fish products** In making available any guarantees of credit under this section in connection with sales of fish and processed fish products, the Secretary shall make such guarantees available under terms and conditions that are comparable to the terms and conditions that apply to guarantees provided with respect to sales of other agricultural commodities under this section.
**(i) Consultation on agricultural export credit programs** The Secretary and the United States Trade Representative shall consult on a regular basis with the Committee on Agriculture, and the Committee on International Relations, of the House of Representatives and the Committee on Agriculture, Nutrition, and Forestry of the Senate on the status of multilateral negotiations regarding agricultural export credit programs.
**(j) Administration**
(1) **Definition of long term** — In this subsection, the term “long term” means a period of 10 or more years.
(2) **Guarantees** — In administering the export credit guarantees authorized under this section, the Secretary shall—
(A) develop an approach to risk evaluation that facilitates accurate country risk designations and timely adjustments to the designations (on an ongoing basis) in response to material changes in country risk conditions, with ongoing opportunity for input and evaluation from the private sector;
(B) adjust risk-based guarantees as necessary to ensure program effectiveness and United States competitiveness;
(C) work with industry to ensure, to the maximum extent practicable, that risk-based fees associated with the guarantees cover the operating costs and losses over the long term; and
(D) notwithstanding any other provision of this section, administer and carry out (only after consulting with the Committee on Agriculture of the House of Representatives and the Committee on Agriculture, Nutrition and Forestry of the Senate) the program pursuant to such terms as may be agreed between the parties to address the World Trade Organization dispute WTO/DS267 to the extent not superseded by any applicable international undertakings on officially supported export credits to which the United States is a party.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Direct credit programs** The Commodity Credit Corporation may make available for each fiscal year such funds of the Commodity Credit Corporation as it determines necessary to carry out any direct credit program established under [section 5621 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section5621&num=0&edition=prelim).
**(b) Export credit guarantee program** The Commodity Credit Corporation shall make available for each fiscal year $5,500,000,000 of credit guarantees under [section 5622(a) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section5622/a&num=0&edition=prelim).
Source: Supplied U.S. Code snapshot — release unconfirmed · 7 U.S.C. § 5641
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Definitions** In this section:
(1) **Agricultural commodity** — The term “agricultural commodity” has the meaning given the term in [section 5602 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section5602&num=0&edition=prelim).
(2) **Geographically disadvantaged farmer or rancher** — The term “geographically disadvantaged farmer or rancher” has the meaning given the term in section 10906(a) of the Farm Security and Rural Investment Act of 2002 ([7 U.S.C. 2204](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section2204&num=0&edition=prelim) note; Public Law 107–171).
**(b) Authorization** Subject to the availability of funds under subsection (d), the Secretary may provide geographically disadvantaged farmers or ranchers direct reimbursement payments for activities described in subsection (c).
**(c) Transportation**
(1) **In general** — Subject to paragraphs (2) and (3), the Secretary may provide direct reimbursement payments to a geographically disadvantaged farmer or rancher to transport an agricultural commodity, or inputs used to produce an agricultural commodity, during a fiscal year.
(2) **Proof of eligibility** — To be eligible to receive assistance under paragraph (1), a geographically disadvantaged farmer or rancher shall demonstrate to the Secretary that transportation of the agricultural commodity or inputs occurred over a distance of more than 30 miles, as determined by the Secretary.
(3) **Amount**
(A) *In general* — Subject to paragraph (2), the amount of direct reimbursement payments made to a geographically disadvantaged farmer or rancher under this section for a fiscal year shall equal the product obtained by multiplying—
(i) the amount of costs incurred by the geographically di
Source: Supplied U.S. Code snapshot — release unconfirmed · 7 U.S.C. § 8701
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Establishment** The Secretary of Agriculture shall establish a fellowship program for,11 So in original. The word “for” probably should not appear. to be known as the “Cochran Fellowship Program”, to provide fellowships to individuals from eligible countries (as determined under subsection (b)) who specialize in agriculture for study—
(1) in the United States; or
(2) at a college or university located in an eligible country that the Secretary determines—
(A) has sufficient scientific and technical facilities;
(B) has established a partnership with at least one college or university in the United States; and
(C) has substantial participation by faculty members of the United States college or university in the design of the fellowship curriculum and classroom instruction under the fellowship.
**(b) Eligible countries** Countries described in any of the following paragraphs shall be eligible to participate in the program established under this section:
(1) **Middle-income country** — A country that has developed economically to the point where it no longer qualifies for bilateral foreign aid assistance from the United States because its per capita income level exceeds the eligibility requirements of such assistance programs (hereafter referred to in this section as a “middle-income” country).
(2) **Ongoing relationship** — A middle-income country that has never qualified for bilateral foreign aid assistance from the United States, but with respect to which an ongoing relationship with the United States, including technical assistance and training, would provide mutual benefits to such country and the United States.
(3) **Type of government** — A country that has recently begun the transformation of its system of government from a non-representative typ
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Short-term program** To promote the sale of agricultural commodities, the Commodity Credit Corporation may finance the commercial export sale of such commodities from privately owned stocks on credit terms for not to exceed a 3-year period.
**(b) Intermediate-term program** Subject to subsection (c), to promote the sale of agricultural commodities the Commodity Credit Corporation may finance the commercial export sales of agricultural commodities from privately owned stocks on credit terms for a period of not less than 3 years nor in excess of 10 years in a manner that will directly benefit United States agricultural producers.
**(c) Determinations** The Commodity Credit Corporation shall not finance an export sale under subsection (b) unless the Secretary determines that such sale will—
(1) develop, expand, or maintain the importing country as a foreign market, on a long-term basis, for the commercial sale and export of United States agricultural commodities, without displacing normal commercial sales;
(2) improve the capability of the importing country to purchase and use, on a long-term basis, United States agricultural commodities; or
(3) otherwise promote the export of United States agricultural commodities.
The reference in paragraphs (1) and (2) to “on a long-term basis” shall not apply in the case of determinations with respect to sales to the independent states of the former Soviet Union.
**(d) Use of program**
(1) **General uses** — The Commodity Credit Corporation may use export sales financing authorized under this section—
(A) to increase exports of agricultural commodities;
(B) to compete against foreign agricultural exports;
(C) to assist countries in meeting their food and fiber needs, particularly—
(i) developing countries; an
Source: Supplied U.S. Code snapshot — release unconfirmed · 7 U.S.C. § 5621
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Authorities** The banks for cooperatives are authorized to make loans and commitments to eligible cooperative associations and to extend to them other technical and financial assistance at any time (whether or not they have a loan from the bank outstanding), including but not limited to discounting notes and other obligations, guarantees, currency exchange necessary to service individual transactions that may be financed under subsection (b) of this section, collateral custody, or participation with other banks for cooperatives and commercial banks or other financial institutions in loans to eligible cooperatives, under such terms and conditions as may be determined to be feasible by the board of directors of each bank for cooperatives under regulations of the Farm Credit Administration. Each bank may own and lease, or lease with option to purchase, to stockholders eligible to borrow from the bank equipment needed in the operations of the stockholder and may make or participate in loans or commitments and extend other technical and financial assistance to other domestic parties for the acquisition of equipment and facilities to be leased to such stockholders for use in their operations in the United States.
**(b) Additional authorities**
(1) A bank for cooperatives is authorized to make or participate in loans and commitments to, and to extend other technical and financial assistance to a domestic or foreign party with respect to its transactions with an association that is a voting stockholder of the bank for the import of agricultural commodities or products thereof, agricultural supplies, or aquatic products through purchases, sales or exchanges, if the bank for cooperatives determines, under regulations of the Farm Credit Administration, that the voting stoc
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 2130
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Federal law — U.S. Code and appendices · legal_authorities
(1) Repealed. Pub. L. 97–113, title VII, § 734(a)(5), Dec. 29, 1981, 95 Stat. 1560.
(2) The Secretary of State shall transmit to such committees a copy of the text of any agreement with any foreign government which would result in any such debt relief no less than thirty days prior to its entry into force, together with a detailed justification of the interest of the United States in the proposed debt relief. The requirements of this paragraph shall not apply with respect to an agreement if a statutory requirement exists that the amount of the debt relief provided by the agreement may not exceed the amount approved for such purposes in advance in an appropriation Act.
Source: Supplied U.S. Code snapshot — release unconfirmed · 22 U.S.C. § 2395a
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Federal law — U.S. Code and appendices · legal_authorities
For purposes of this Act, the terms “independent states of the former Soviet Union” and “independent states” mean the following: Armenia, Azerbaijan, Belarus, Georgia, Kazakhstan, Kyrgyzstan, Moldova, Russia, Tajikistan, Turkmenistan, Ukraine, and Uzbekistan.
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Federal law — U.S. Code and appendices · legal_authorities
The Commodity Credit Corporation may carry out a program under which commercial export credit guarantees available under [section 5622 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section5622&num=0&edition=prelim) are combined with direct credits from the Commodity Credit Corporation under [section 5621 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section5621&num=0&edition=prelim) to reduce the effective rate of interest on export sales of agricultural commodities.
Source: Supplied U.S. Code snapshot — release unconfirmed · 7 U.S.C. § 5625
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Establishment** There is established in the Department the biotechnology and agricultural trade program.
**(b) Purpose** The purpose of the program shall be to remove, resolve, or mitigate significant regulatory nontariff barriers to the export of United States agricultural commodities (as defined in [section 5602 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section5602&num=0&edition=prelim)) into foreign markets through public and private sector projects funded by grants that address—
(1) quick response intervention regarding nontariff barriers to United States exports involving—
(A) United States agricultural commodities produced through biotechnology or new agricultural production technologies;
(B) food safety;
(C) disease; or
(D) other sanitary or phytosanitary concerns; or
(2) developing protocols as part of bilateral negotiations with other countries on issues such as animal health, grain quality, and genetically modified commodities.
**(c) Eligible programs** Depending on need, as determined by the Secretary, activities authorized under this section may be carried out through—
(1) this section;
(2) the emerging markets program under section 1542 11 See References in Text note below. and [section 5623(d) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section5623/d&num=0&edition=prelim); or
(3) the Cochran Fellowship Program under [section 3293 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section3293&num=0&edition=prelim).
**(d) Funding** There is authorized to be appropriated $2,000,000 for each of fiscal years 2019 through 2023.
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Federal law — U.S. Code and appendices · legal_authorities
Page 1760
TITLE 7—AGRICULTURE
§ 5622
(1) a requirement that repayment shall be
made in dollars with interest accruing thereon
as determined appropriate by the Secretary;
and
(2) a requirement, if the Secretary deter-
mines such requirement appropriate to protect
the interests of the United States, that an ini-
tial payment be made by the purchaser at the
time of sale or shipment of the agricultural
commodity that is subject to the contract.
(f) Restrictions
The Commodity Credit Corporation may not
make export sales financing authorized under
this section available in connection with sales of
an agricultural commodity to any country that
the Secretary determines cannot adequately
service the debt associated with such sale.
(Pub. L. 95–501, title II, § 201, as added Pub. L.
101–624, title XV, § 1531, Nov. 28, 1990, 104 Stat.
3672;
amended
Pub.
L.
102–511,
title
VII,
§ 707(a)–(c), Oct. 24, 1992, 106 Stat. 3350, 3351; Pub.
L. 104–127, title II, § 277(c)(2), Apr. 4, 1996, 110
Stat. 979.)
Editorial Notes
PRIOR PROVISIONS
A prior section 201 of Pub. L. 95–501 enacted section
1707b of this title prior to the complete revision of Pub.
L. 95–501 by Pub. L. 101–624.
AMENDMENTS
1996—Subsec. (d)(1)(C)(ii). Pub. L. 104–127 substituted
‘‘emerging markets’’ for ‘‘emerging democracies’’.
1992—Subsec. (c). Pub. L. 102–511, § 707(a), inserted
sentence at end.
Subsec. (d)(1)(C). Pub. L. 102–511, § 707(b), amended
subpar. (C) generally. Prior to amendment, subpar. (C)
read as follows: ‘‘to assist countries, particularly devel-
oping countries, in meeting their food and fiber needs;
and’’.
Subsec. (f). Pub. L. 102–511, § 707(c), added subsec. (f).
Statutory Notes and Related Subsidiaries
REGULATIONS
Pub. L. 102–511, title VII, § 707(d), Oct. 24, 1992
Source: Supplied 2024 U.S. Code historical extraction · 7 U.S.C. § 5622
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