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22 U.S.C. § 2771 — Military sales authorizations and ceilings

Federal law — U.S. Code and appendices · legal_authorities

22 U.S.C. § 2771 — Military sales authorizations and ceilings

**(a) Authorization for foreign military sales credit and guarantee program** There are authorized to be appropriated to the President to carry out this chapter $5,371,000,000 for fiscal year 1986 and $5,371,000,000 for fiscal year 1987. Credits may not be extended under [section 2763 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section2763&num=0&edition=prelim) in an amount, and loans may not be guaranteed under [section 2764(a) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section2764/a&num=0&edition=prelim) in a principal amount, which exceeds any maximum amount which may be established with respect to such credits or such loan guarantees in legislation appropriating funds to carry out this chapter. Unobligated balances of funds made available pursuant to this section are hereby authorized to be continued available by appropriations legislation to carry out this chapter. **(b) Aggregate ceilings on credit sales; availability at concessional rates of interest** (1) The total amount of credits extended under [section 2763 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section2763&num=0&edition=prelim) shall not exceed $5,371,000,000 for fiscal year 1986 and $5,371,000,000 for fiscal year 1987. (2) Of the aggregate amount of financing provided under this section, not more than $553,900,000 for fiscal year 1986 and not more than $553,900,000 for fiscal year 1987 may be made available at concessional rates of interest. If a country is released from its contractual liability to repay the United States Government with respect to financing provided under this section, such financing shall not be considered to be financing provided at concessional rates of inte

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Source location: Title 22, Chapter 39, § 2771; chapter-039-arms-export-control.md

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Federal law — U.S. Code and appendices · legal_authorities

22 U.S.C. § 2763 — Credit sales

**(a) Financing procurement of defense articles and services, and design and construction services** The President is authorized to finance the procurement of defense articles, defense services, and design and construction services by friendly foreign countries and international organizations, on such terms and conditions as he may determine consistent with the requirements of this section. Notwithstanding any other provision of law, and subject to the regular notification requirements of the Committees on Appropriations, the authority of this section may be used to provide financing to Israel and Egypt for the procurement by leasing (including leasing with an option to purchase) of defense articles from United States commercial suppliers, not including Major Defense Equipment (other than helicopters and other types of aircraft having possible civilian application), if the President determines that there are compelling foreign policy or national security reasons for those defense articles being provided by commercial lease rather than by government-to-government sale under this chapter. **(b) Repayment period** The President shall require repayment in United States dollars within a period not to exceed twelve years after the loan agreement with the country or international organization is signed on behalf of the United States Government, unless a longer period is specifically authorized by statute for that country or international organization. **(c) Interest rate; definitions** (1) The President shall charge interest under this section at such rate as he may determine, except that such rate may not be less than 5 percent per year. (2) For purposes of financing provided under this section— (A) the term “concessional rate of interest” means any rate of interest wh

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Federal law — U.S. Code and appendices · legal_authorities

22 U.S.C. § 2764 — Guaranties

**(a) Guaranty against political and credit risks of nonpayment** The President may guarantee any individual, corporation, partnership, or other juridical entity doing business in the United States (excluding United States Government agencies other than the Federal Financing Bank) against political and credit risks of nonpayment arising out of their financing of credit sales of defense articles, defense services, and design and construction services to friendly countries and international organizations. Fees shall be charged for such guaranties. **(b) Sale of promissory notes of friendly countries and international organizations; guaranty of payment** The President may sell to any individual, corporation, partnership, or other juridical entity (excluding United States Government agencies other than the Federal Financing Bank) promissory notes issued by friendly countries and international organizations as evidence of their obligations to make repayments to the United States on account of credit sales financed under [section 2763 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section2763&num=0&edition=prelim), and may guarantee payment thereof. **(c) Guaranty Reserve Fund; payment of guaranties; guaranty reserve below prescribed amount** Funds obligated under this section before December 16, 1980, which constitute a single reserve for the payment of claims under guaranties issued under this section shall remain available for expenditure for the purposes of this section on and after that date. That single reserve may, on and after August 8, 1985, be referred to as the “Guaranty Reserve Fund”. Funds provided for necessary expenses to carry out the provisions of [section 2763 of this title](https://uscode.house.gov/view.xhtml?req=granu

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Federal law — U.S. Code and appendices · legal_authorities

22 U.S.C. § 2751 — Need for international defense cooperation and military export controls; Presidential waiver; report to Congress; arms sales policy

As declared by the Congress in the Arms Control and Disarmament Act [[22 U.S.C. 2551](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section2551&num=0&edition=prelim) et seq.], an ultimate goal of the United States continues to be a world which is free from the scourge of war and the dangers and burdens of armaments; in which the use of force has been subordinated to the rule of law; and in which international adjustments to a changing world are achieved peacefully. In furtherance of that goal, it remains the policy of the United States to encourage regional arms control and disarmament agreements and to discourage arms races.

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Federal law — U.S. Code and appendices · legal_authorities

22 U.S.C. § 2771 — Military sales authorizations and ceilings

Page 1227 TITLE 22—FOREIGN RELATIONS AND INTERCOURSE § 2771 sold, pursuant to subsection (a) of this section only if (1) the end item to which the articles apply is to be procured for the armed forces of a friendly country or international organiza- tion, (2) the articles would be supplied to the prime contractor as government-furnished equipment or materials if the end item were being procured for the use of the United States Armed Forces, and (3) the articles and services are available only from United States Govern- ment sources or are not available to the prime contractor directly from United States commer- cial sources at such times as may be required to meet the prime contractor’s delivery schedule. (c) ‘‘Defense articles’’ and ‘‘defense services’’ de- fined For the purpose of this section, the terms ‘‘de- fense articles’’ and ‘‘defense services’’ mean de- fense articles and defense services as defined in section 2794(3) and (4) of this title. (Pub. L. 90–629, ch. 2B, § 30, as added Pub. L. 97–392, § 1, Dec. 29, 1982, 96 Stat. 1962; amended Pub. L. 101–165, title IX, § 9097, Nov. 21, 1989, 103 Stat. 1150.) Editorial Notes AMENDMENTS 1989—Subsec. (a). Pub. L. 101–165 inserted ‘‘either (i)’’ after ‘‘such a company’’ in first sentence and inserted before period at end of first sentence ‘‘or (ii) in the case of ammunition parts subject to subsection (b) of this section, using commercial practices which restrict ac- tual delivery directly to a friendly foreign country or international organization pursuant to approval under section 2778 of this title’’. Executive Documents DELEGATION OF FUNCTIONS For delegation of functions of the President under this section, see section 1(d) of Ex. Ord. No. 13637, Mar. 8, 2013, 78 F.R. 16129, set out a

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