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22 U.S.C. § 2764 — Guaranties

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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Source location: Title 22, Chapter 39, § 2764; chapter-039-arms-export-control.md

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

22 U.S.C. § 2311 — General authority

**(a) Defense articles and services; noncombatant personnel; transfer of funds** The President is authorized to furnish military assistance, on such terms and conditions as he may determine, to any friendly country or international organization, the assisting of which the President finds will strengthen the security of the United States and promote world peace and which is otherwise eligible to receive such assistance, by— (1) acquiring for any source and providing (by loan or grant) any defense article or defense service; (2) assigning or detailing members of the Armed Forces of the United States and other personnel of the Department of Defense to perform duties of a noncombatant nature; or (3) transferring such of the funds appropriated or otherwise made available under this part as the President may determine for assistance to a recipient country, to the account in which funds for the procurement of defense articles and defense services under section 21 and section 22 of the Arms Export Control Act [[22 U.S.C. 2761](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section2761&num=0&edition=prelim) and 2762] have been deposited for such recipient, to be merged with such deposited funds, and to be used solely to meet obligations of the recipient for payment for sales under that Act [[22 U.S.C. 2751](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section2751&num=0&edition=prelim) et seq.]. Sales which are wholly paid from funds transferred under paragraph (3) or from funds made available on a non-repayable basis under section 23 of the Arms Export Control Act [[22 U.S.C. 2763](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section2763&num=0&edition=prelim)] shall be priced to exclude the costs of salarie

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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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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. § 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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22 U.S.C. § 2345 — Repealed. Pub. L. 90–629, ch. 4, § 45(a), Oct. 22, 1968, 82 Stat. 1327

### Statutory Notes Section, Pub. L. 87–195, pt. II, § 525, formerly §§ 503(e), 509(b), as added Pub. L. 88–633, pt. II, § 201(a), (d), Oct. 7, 1964, 78 Stat. 1011; amended Pub. L. 89–171, pt. II, § 201(f), Sept. 6, 1965, 79 Stat. 657; renumbered § 525 and amended Pub. L. 90–137, pt. II, § 201(b)(3), (i)(2), Nov. 14, 1967, 81 Stat. 455, 457, provided for guaranties until June 30, 1968. See [section 2764 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section2764&num=0&edition=prelim). #### Effective Date of Repeal Repeal effective July 1, 1968, see section 41 of Pub. L. 90–629, set out as an Effective Date note under [section 2751 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section2751&num=0&edition=prelim). #### Savings Provision Determinations, authorizations, regulations, orders, contracts, agreements, and other actions issued undertaken, or entered into under authority of any provision of former [section 2345 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section2345&num=0&edition=prelim) as continuing in full force and effect until modified by appropriate authority, see section 46 of Pub. L. 90–629, set out as a note under former [section 2341 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section2341&num=0&edition=prelim).

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

22 U.S.C. § 2765 — Annual estimate and justification for sales program

**(a) Report to Congress; contents** Except as provided in subsection (d) 11 See References in Text note below. of this section, no later than February 1 of each year, the President shall transmit to the appropriate congressional committees, as a part of the annual presentation materials for security assistance programs proposed for the next fiscal year, a report which sets forth— (1) an arms sales proposal covering all sales and licensed commercial exports under this chapter, as well as exports pursuant to a treaty referred to in [section 2778(j)(1)(C)(i) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section2778/j/1/C/i&num=0&edition=prelim), of major weapons or weapons-related defense equipment for $7,000,000 or more, or of any other weapons or weapons-related defense equipment for $25,000,000 or more, which are considered eligible for approval during the current calendar year, together with an indication of which sales and licensed commercial exports are deemed most likely actually to result in the issuance of a letter of offer or of an export license during such year; (2) an estimate of the total amount of sales and licensed commercial exports, as well as exports pursuant to a treaty referred to in [section 2778(j)(1)(C)(i) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section2778/j/1/C/i&num=0&edition=prelim), expected to be made to each foreign nation from the United States; (3) the United States national security considerations involved in expected sales or licensed commercial exports to each country, an analysis of the relationship between anticipated sales to each country and arms control efforts concerning such country and an analysis of the impact of such anticipated sales on the s

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

22 U.S.C. § 2776 — Reports and certifications to Congress on military exports

**(a) Report by President; contents** The President shall transmit to the Speaker of the House of Representatives, the Committee on Foreign Affairs of the House of Representatives, and to the chairman of the Committee on Foreign Relations of the Senate not more than sixty days after the end of each quarter an unclassified report (except that any material which was transmitted in classified form under subsection (b)(1) or (c)(1) of this section may be contained in a classified addendum to such report, and any letter of offer referred to in paragraph (1) of this subsection may be listed in such addendum unless such letter of offer has been the subject of an unclassified certification pursuant to subsection (b)(1) of this section, and any information provided under paragraph (11) of this subsection may also be provided in a classified addendum) containing— (1) a listing of all letters of offer to sell any major defense equipment for $1,000,000 or more under this chapter to each foreign country and international organization, by category, if such letters of offer have not been accepted or canceled; (2) a listing of all such letters of offer that have been accepted during the fiscal year in which such report is submitted, together with the total value of all defense articles and defense services sold to each foreign country and international organization during such fiscal year; (3) the cumulative dollar amounts, by foreign country and international organization, of sales credit agreements under [section 2763 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section2763&num=0&edition=prelim) and guaranty agreements under [section 2764 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section2764&num=0&edi

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22 U.S.C. § 2777 — Fiscal provisions relating to foreign military sales credits

**(a) Permissible uses of cash payments under sections 2761, 2762, 2763, and 2769** Cash payments received under sections 2761, 2762, and 2769 of this title and advances received under [section 2763 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section2763&num=0&edition=prelim) shall be available solely for payments to suppliers (including the military departments) and refunds to purchasers and shall not be available for financing credits and guaranties. **(b) Transfer of funds to miscellaneous receipts of Treasury** Amounts received from foreign governments and international organizations as repayments for credits extended pursuant to [section 2763 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section2763&num=0&edition=prelim), amounts received from the disposition of instruments evidencing indebtedness under [section 2764(b) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section2764/b&num=0&edition=prelim) (excluding such portion of the sales proceeds as may be required at the time of disposition to be obligated as a reserve for payment of claims under guaranties issued pursuant to [section 2764(b) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section2764/b&num=0&edition=prelim), which sums are made available for such obligations), and other collections (including fees and interest) shall be transferred to the miscellaneous receipts of the Treasury. **(c) Credit of funds to reserve under section 2764(c)** Notwithstanding the provisions of subsection (b), to the extent that any of the funds constituting the reserve under [section 2764(c) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title2

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

22 U.S.C. § 2791 — General provisions

**(a) Considerations in procurement outside United States** In carrying out this chapter, special emphasis shall be placed on procurement in the United States, but, subject to the provisions of subsection (b) of this section, consideration shall also be given to coproduction or licensed production outside the United States of defense articles of United States origin when such production best serves the foreign policy, national security, and economy of the United States. In evaluating any sale proposed to be made pursuant to this chapter, there shall be taken into consideration (A) the extent to which the proposed sale damages or infringes upon licensing arrangements whereby United States entities have granted licenses for the manufacture of the defense articles selected by the purchasing country to entities located in friendly foreign countries, which licenses result in financial returns to the United States, (B) the portion of the defense articles so manufactured which is of United States origin, and (C) whether, and the extent to which, such sale might contribute to an arms race, aid in the development of weapons of mass destruction, support international terrorism, increase the possibility of outbreak or escalation of conflict, or prejudice the development of bilateral or multilateral arms control or nonproliferation agreements or other arrangements. **(b) Information to Congress on credit sales and guaranties** No credit sale shall be extended under [section 2763 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section2763&num=0&edition=prelim), and no guarantee shall be issued under [section 2764 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section2764&num=0&edition=prelim), in any case invo

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22 U.S.C. § 3351 — Modernizing Taiwan’s security capabilities to deter and, if necessary, defeat aggression by the People’s Republic of China

**(a) Appropriate congressional committees defined** In this section, the term “appropriate congressional committees” means— (1) the Committee on Foreign Relations of the Senate; (2) the Committee on Armed Services of the Senate; (3) the Committee on Appropriations of the Senate; (4) the Committee on Foreign Affairs of the House of Representatives; (5) the Committee on Armed Services of the House of Representatives; and (6) the Committee on Appropriations of the House of Representatives. **(b) Taiwan security programs** The Secretary of State, in consultation with the Secretary of Defense, shall use the authorities under this section to strengthen the United States-Taiwan defense relationship, and to support the acceleration of the modernization of Taiwan’s defense capabilities, consistent with the Taiwan Relations Act (Public Law 96–8) [[22 U.S.C. 3301](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section3301&num=0&edition=prelim) et seq.]. **(c) Purpose** In addition to the purposes otherwise authorized for Foreign Military Financing programs under the Arms Export Control Act ([22 U.S.C. 2751](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section2751&num=0&edition=prelim) et seq.), a purpose of the Foreign Military Financing Program should be to provide assistance, including equipment, training, and other support, to build the civilian and defensive military capabilities of Taiwan— (1) to accelerate the modernization of capabilities that will enable Taiwan to delay, degrade, and deny attempts by People’s Liberation Army forces— (A) to conduct coercive or grey zone activities; (B) to blockade Taiwan; or (C) to secure a lodgment on any islands administered by Taiwan and expand or otherwise use such lodgmen

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