10 U.S.C. § 2345 — Liquidation of accrued credits and liabilities

submitted 46 years ago by Pub. L. 96-323 to r/title-10-ARMED-FORCES · 246 words · no verdicts yet

in plain englishAI-generated · not legal advice

Credits and liabilities from these transactions must be settled at least every 12 months, and in-kind entitlements within 12 months. Certain United States credits still unpaid after 18 months may be offset against amounts the Department of Defense owes.

(a) Credits and liabilities of the United States from acquisitions and transfers under this subchapter must be settled at least once every 12 months by direct payment from the receiving entity to the supplying entity. (b) An entitlement to payment in kind or exchange arising from such a transaction must be satisfied within 12 months after delivery. (c)(1) If a United States credit from providing support, supplies, or services remains unsettled more than 18 months after delivery, the Defense Secretary, with the State Secretary’s agreement, may offset it against an amount the Department of Defense owes under a transaction under this subchapter to the government or international organization that received the United States support. (2) The offset credit must be credited as section 2346 provides for a United States receipt.

the actual law source: uscode.house.gov ↗public domain

(a)

Credits and liabilities of the United States accrued as a result of acquisitions and transfers of logistic support, supplies, and services under the authority of this subchapter shall be liquidated not less often than once every 12 months by direct payment to the entity supplying such support, supplies, or services by the entity receiving such support, supplies, or services.

(b)

Payment-in-kind or exchange entitlements accrued as a result of acquisitions and transfers of logistic support, supplies, and services under authority of this subchapter shall be satisfied within 12 months after the date of the delivery of the logistic support, supplies, or services.

(c)

(1)

Any credits of the United States accrued as a result of the provision of logistic support, supplies, and services under the authority of this subchapter that remain unliquidated more than 18 months after the date of delivery of the logistic support, supplies, or services may, at the option of the Secretary of Defense, with the concurrence of the Secretary of State, be liquidated by offsetting the credits against any amount owed by the Department of Defense, pursuant to a transaction or transactions concluded under the authority of this subchapter, to the government or international organization to which the logistic support, supplies, or services were provided by the United States.

(2)

The amount of any credits offset pursuant to paragraph (1) shall be credited as specified in section 2346 of this title as if it were a receipt of the United States.

Source credit: (Added Pub. L. 96–323, § 2(a), Aug. 4, 1980, 94 Stat. 1018, § 2325; renumbered § 2345, Pub. L. 99–145, title XIII, § 1304(a)(1), Nov. 8, 1985, 99 Stat. 741; amended Pub. L. 99–661, div. A, title XI, § 1104(c), Nov. 14, 1986, 100 Stat. 3965; Pub. L. 101–189, div. A, title IX, § 931(e)(1), Nov. 29, 1989, 103 Stat. 1535; Pub. L. 103–337, div. A, title XIII, § 1317(e), Oct. 5, 1994, 108 Stat. 2900; Pub. L. 114–328, div. A, title X, § 1083(a), Dec. 23, 2016, 130 Stat. 2420.)

history & why it existsrecord from the source credit

1980Enacted · Pub. L. 96-323 · 94 Stat. 1018
1985Amended · Pub. L. 99-145 · 99 Stat. 741
1986Amended · Pub. L. 99-661 · 100 Stat. 3965
1989Amended · Pub. L. 101-189 · 103 Stat. 1535
1994Amended · Pub. L. 103-337 · 108 Stat. 2900
2016Amended · Pub. L. 114-328 · 130 Stat. 2420

A history note hasn’t been published yet. The record shows enactment by Pub. L. 96-323 on 1980-08-04.

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