7 U.S.C. § 5624 — Barter of agricultural commodities
submitted 36 years ago by Pub. L. 95-501 to r/title-7-AGRICULTURE · 375 words · no verdicts yet
The Secretary or Corporation may barter eligible agricultural commodities for foreign products. The section identifies eligible commodities, allows exporter assistance, and requires precautions against misuse.
(a) The Secretary* or Corporation may provide eligible commodities in exchange for foreign products on prescribed terms. (b) Unless otherwise specified, eligible commodities include (1) commodities acquired through Corporation price-support operations and (2) commodities acquired in the normal course of business and available for disposal. (c)(1) They shall encourage exporters to barter to (A) obtain needed foreign products and (B) develop, maintain, or expand foreign markets. (2) They may provide commodities to help exporters barter. (3) They shall give requested technical advice to United States* exporters. (d) They may transfer obtained foreign products to other agencies if the Corporation is assured of full reimbursement in the same fiscal year. (e) This does not limit the Corporation’s authority to acquire, hold, or dispose of foreign materials appropriate to its functions and asset protection. (f) They shall reasonably prevent misuse, including activities that (1) displace possible commercial United States sales; (2) unduly disrupt world prices or normal trade patterns with recipient countries; or (3) allow resale or transshipment to countries other than the intended recipient.
The Secretary* or the Commodity Credit Corporation may provide eligible commodities in barter for foreign products under such terms and conditions as the Secretary or the Corporation shall prescribe.
Unless otherwise specified, eligible commodities shall include—
agricultural commodities acquired by the Commodity Credit Corporation through price support operations; and
agricultural commodities acquired by the Secretary or the Commodity Credit Corporation in the normal course of business and available for disposition.
The Secretary or the Commodity Credit Corporation shall encourage exporters of agricultural commodities to barter such commodities for foreign products—
to acquire such foreign products needed by such exporters; and
to develop, maintain, or expand foreign markets for United States* agricultural exports.
The Secretary or the Commodity Credit Corporation may provide eligible commodities to exporters to assist such exporters in barter transactions.
The Secretary or the Commodity Credit Corporation shall provide technical advice and assistance relating to the barter of agricultural commodities to any United States exporter who requests such advice or assistance.
The Secretary or the Commodity Credit Corporation may transfer any foreign products that the Secretary or such Corporation obtains through barter activities to other Government agencies if the Corporation receives assurances that it will receive full reimbursement from the agency within the same fiscal year in which such transfer occurs.
Nothing contained in this section shall limit the authority of the Commodity Credit Corporation to acquire, hold, or dispose of such foreign materials as such Corporation determines appropriate in carrying out the functions and protecting the assets of the Corporation.
The Secretary or the Commodity Credit Corporation shall take reasonable precautions to prevent the misuse of eligible commodities in a barter or exchange program, including activities that—
displace or interfere with commercial sales of United States agricultural commodities that otherwise might be made;
unduly disrupt world prices of agricultural commodities or the normal patterns of commercial trade with recipient countries; or
permit the resale or transshipment of eligible commodities to countries other than the intended recipient country.
Source credit: (Pub. L. 95–501, title II, § 204, as added Pub. L. 101–624, title XV, § 1531, Nov. 28, 1990, 104 Stat. 3676; amended Pub. L. 102–237, title III, § 320, Dec. 13, 1991, 105 Stat. 1857.)
- 1990Enacted · Pub. L. 95-501 · 104 Stat. 3676
- 1991Amended · Pub. L. 102-237 · 105 Stat. 1857
A history note hasn’t been published yet. The record shows enactment by Pub. L. 95-501 on 1990-11-28.
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