7 USC 5624 – Barter of agricultural commodities
(a) In general
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.
(b) Eligible commodities
Terms Used In 7 USC 5624
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Secretary: means the Secretary of Agriculture. See 7 USC 5602
- United States: includes each of the States, the District of Columbia, Puerto Rico, and the territories and possessions of the United States. See 7 USC 5602
Unless otherwise specified, eligible commodities shall include—
(1) agricultural commodities acquired by the Commodity Credit Corporation through price support operations; and
(2) agricultural commodities acquired by the Secretary or the Commodity Credit Corporation in the normal course of business and available for disposition.
(c) Barter by exporters of agricultural commodities
(1) Purpose
The Secretary or the Commodity Credit Corporation shall encourage exporters of agricultural commodities to barter such commodities for foreign products—
(A) to acquire such foreign products needed by such exporters; and
(B) to develop, maintain, or expand foreign markets for United States agricultural exports.
(2) Eligible activities
The Secretary or the Commodity Credit Corporation may provide eligible commodities to exporters to assist such exporters in barter transactions.
(3) Technical assistance
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.
(d) Transfer of foreign products to other Government agencies
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.
(e) Corporation authority not limited
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.
(f) Prohibited activities
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—
(1) displace or interfere with commercial sales of United States agricultural commodities that otherwise might be made;
(2) unduly disrupt world prices of agricultural commodities or the normal patterns of commercial trade with recipient countries; or
(3) permit the resale or transshipment of eligible commodities to countries other than the intended recipient country.