U.S. Code
- Title 1 General Provisions
- Title 2 The Congress
- Title 3 The President
- Title 4 Flag and Seal, Seat Of Government,and the States
- Title 5 Government Organization and Employees
- Appendix to Title 5
- Title 6 Domestic Security
- Title 7 Agriculture
- Title 8 Aliens and Nationality
- Title 9 Arbitration
- Title 10 Armed Forces
- Appendix to Title 10 (Rules of Court of Appeals for the Armed Forces)
- Title 11 Bankruptcy
- Appendix to Title 11
- Title 12 Banks and Banking
- Title 13 Census
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- Title 15 Commerce and Trade
- Title 16 Conservation
- Title 17 Copyrights
- Title 18 Crimes and Criminal Procedure
- Appendix to Title 18
- Title 19 Customs Duties
- Title 20 Education
- Title 21 Food and Drugs
- Title 22 Foreign Relations and Intercourse
- Title 23 Highways
- Title 24 Hospitals and Asylums
- Title 25 Indians
- Title 26 Internal Revenue Code
- Appendix to Title 26
- Title 27 Intoxicating Liquors
- Title 28 Judiciary and Judicial Procedure
- Appendix to Title 28
- Title 29 Labor
- Title 30 Mineral Lands and Mining
- Title 31 Money and Finance
- Title 32 National Guard
- Title 33 Navigation and Navigable Waters
- Title 34 Navy (repealed)
- Title 35 Patents
- Title 36 Patriotic Societies and Observances
- Title 37 Pay and Allowances Of the Uniformed Services
- Title 38 Veterans' Benefits
- Appendix to Title 38 (Rules of Court of Appeals for Veterans Claims()
- Title 39 Postal Service
- Title 40 Public Buildings, Property, and Works
- Title 41 Public Contracts
- Title 42 The Public Health and Welfare
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- Title 46 Shipping
- Appendix to Title 46
- Title 47 Telegraphs, Telephones, and Radiotelegraphs
- Title 48 Territories and Insular Possessions
- Title 49 Transportation
- Title 50 War and National Defense
- Appendix to Title 50
§ 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, 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 and of section
2311 of this title may be used to pay claims on the Guaranty Reserve Fund to the extent that funds in the Guaranty Reserve Fund are inadequate for that purpose. For purposes of any provision in this chapter or any other Act relating to a prohibition or limitation on the availability of funds under this chapter, whenever a guaranty is issued under this section, the principal amount of the loan so guaranteed shall be deemed to be funds made available for use under this chapter. Any guaranties issued hereunder shall be backed by the full faith and credit of the United States.
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