
From the U.S. Code Online via GPO Access
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[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 22USC2184]

 
               TITLE 22--FOREIGN RELATIONS AND INTERCOURSE
 
                     CHAPTER 32--FOREIGN ASSISTANCE
 
                 SUBCHAPTER I--INTERNATIONAL DEVELOPMENT
 
                         Part II--Other Programs
 
         subpart iii--shelter and other credit guaranty programs
 
Sec. 2184. Trade credit insurance program for Central America


(a) Guarantees to Export-Import Bank; financial transactions with 
        private sector in Central American countries

    In order to enable the Export-Import Bank of the United States 
(hereafter in this section referred to as the ``Bank'') to determine 
that there exists reasonable assurance of repayment as required under 
section 2(b)(1)(B) of the Export-Import Bank Act of 1945 [12 U.S.C. 
635(b)(1)(B)], the agency primarily responsible for administering 
subchapter I of this chapter (hereafter in this section referred to as 
the ``Agency'') is authorized to provide guarantees to the Bank for 
liabilities to be incurred by the Bank in connection with guarantees or 
insurance provided under the Export-Import Bank Act of 1945 [12 U.S.C. 
635 et seq.] for financing for transactions involving the export of 
goods and services for the use of the private sector in Central American 
countries.

(b) Extent of guarantees; agreements; reserve fund

    (1) Guarantees provided by the Agency pursuant to the authority of 
subsection (a) of this section shall be for short-term guarantees and 
insurance extended by the Bank which shall be repayable within a period 
not to exceed one year from the date of arrival at the port of 
importation of the goods and services covered by such guarantees or 
insurance. Guarantees or insurance extended by the Bank and guaranteed 
by the Agency pursuant to subsection (a) of this section shall be 
provided by the Bank in accordance with criteria and procedures agreed 
to by the Agency and the Bank. Such agreement shall also provide for the 
establishment of a reserve fund by the Agency, with such funds made 
available to the reserve as the Agency deems necessary to discharge 
liabilities under guarantees provided by the Agency pursuant to 
subsection (a) of this section.
    (2) The Administrator of such agency shall transmit a copy of such 
agreement to the Speaker of the House of Representatives and to the 
Committee on Foreign Relations and the Committee on Banking, Housing, 
and Urban Affairs of the Senate.

(c) Deadline for guarantee commitments

    The Agency shall not enter into any commitments to guarantee under 
subsection (a) of this section after September 30, 1991.

(d) Availability of appropriated funds

    Of the funds authorized to be appropriated for part IV of subchapter 
II of this chapter, there are authorized to be made available such sums 
as may be deemed necessary by the Agency to discharge liabilities under 
guarantees entered into under subsection (a) of this section.

(e) Guarantee commitments limit

    Commitments to guarantee under subsection (a) of this section are 
authorized only to the extent and in the amounts provided in 
appropriations Acts, except that the aggregate amount of outstanding 
commitments under subsection (a) of this section may not exceed 
$300,000,000 of contingent liability for loan principal during fiscal 
year 1986 and may not exceed $400,000,000 of contingent liability for 
loan principal during fiscal year 1987.

(f) Credits to reserve fund

    To the extent that any of the funds made available pursuant to 
subsection (d) of this section are paid out for a claim arising out of 
liabilities guaranteed under subsection (a) of this section, amounts 
received after the date of such payment, with respect to such claim, 
shall be credited to the reserve fund referred to in subsection (b) of 
this section, shall be merged with the funds in such reserve, and shall 
be available for the purpose of payments by the Agency to the Bank for 
guarantees under subsection (a) of this section.

(g) Omitted

(h) Administrative and technical assistance

    The Export-Import Bank shall provide without reimbursement such 
administrative and technical assistance to the Agency as the Bank and 
the Agency deem appropriate to assist the Agency in carrying out this 
section.

(Pub. L. 87-195, pt. I, Sec. 224, as added Pub. L. 98-473, title I, 
Sec. 101(1) [title V, Sec. 541(a)], Oct. 12, 1984, 98 Stat. 1884, 1903; 
amended Pub. L. 99-83, title III, Sec. 314, Aug. 8, 1985, 99 Stat. 217; 
Pub. L. 101-167, title IV, Nov. 21, 1989, 103 Stat. 1216; Pub. L. 101-
179, title III, Sec. 304(b), Nov. 28, 1989, 103 Stat. 1313; Pub. L. 101-
513, title IV, Nov. 5, 1990, 104 Stat. 2001.)

                       References in Text

    The Export-Import Bank Act of 1945, referred to in subsec. (a), is 
act July 31, 1945, ch. 341, 59 Stat. 526, as amended, which is 
classified generally to subchapter I (Sec. 635 et seq.) of chapter 6A of 
Title 12, Banks and Banking. For complete classification of the Act to 
the Code, see Short Title note set out under section 635 of Title 12 and 
Tables.


References to Subchapter I Deemed To Include Certain Parts of Subchapter 
                                   II

    References to subchapter I of this chapter are deemed to include 
parts IV (Sec. 2346 et seq.), VI (Sec. 2348 et seq.), and VIII 
(Sec. 2349aa et seq.) of subchapter II of this chapter, and references 
to subchapter II are deemed to exclude such parts. See section 202(b) of 
Pub. L. 92-226, set out as a note under section 2346 of this title, and 
sections 2348c and 2349aa-5 of this title.

                          Codification

    Subsec. (g) of this section, which required, at intervals of six 
months, the administrator of the agency primarily responsible for 
administering subchapter I of this chapter and the President of the 
Export-Import Bank of the United States to prepare and transmit to the 
Speaker of the House of Representatives and the Chairman of the 
Committee on Foreign Relations of the Senate a report on the amount and 
extension of credits during the preceding six-month period, terminated, 
effective May 15, 2000, pursuant to section 3003 of Pub. L. 104-66, as 
amended, set out as a note under section 1113 of Title 31, Money and 
Finance. See, also, page 148 of House Document No. 103-7.
    Section 224 of Pub. L. 87-195 is based on section 1011 of title X of 
H.R. 5119, Ninety-eighth Congress, as passed by the House of 
Representatives May 10, 1984, and enacted into law by Pub. L. 98-473.


                            Prior Provisions

    A prior section 224 of Pub. L. 87-195, pt. I, Sept. 4, 1961, 75 
Stat. 432, as amended by Pub. L. 87-565, pt. I, Sec. 104(c), Aug. 1, 
1962, 76 Stat. 257; Pub. L. 88-205, pt. I, Sec. 104(g), Dec. 16, 1963, 
77 Stat. 382; Pub. L. 88-633, pt. I, Sec. 103(b), Oct. 7, 1964, 78 Stat. 
1010; Pub. L. 89-171, pt. I, Sec. 104(e), Sept. 6, 1965, 79 Stat. 655; 
Pub. L. 89-583, pt. I, Sec. 104(c), Sept. 19, 1966, 80 Stat. 798; Pub. 
L. 90-137, pt. I, Sec. 104(d), Nov. 14, 1967, 81 Stat. 451; Pub. L. 90-
554, pt. I, Sec. 104, Oct. 8, 1968, 82 Stat. 961, related to housing 
projects in Latin America, prior to the general reorganization of this 
subpart by Pub. L. 91-175, pt. I, Sec. 105, Dec. 30, 1969, 83 Stat. 807. 
See section 2182 of this title.


                               Amendments

    1990--Subsec. (c). Pub. L. 101-513 substituted ``1991'' for 
``1990''.
    1989--Pub. L. 101-179 inserted ``for Central America'' after 
``program'' in section catchline.
    Subsec. (c). Pub. L. 101-167 substituted ``1990'' for ``1989''.
    1985--Subsec. (e). Pub. L. 99-83 substituted ``except that the 
aggregate amount of outstanding commitments under subsection (a) of this 
section may not exceed $300,000,000 of contingent liability for loan 
principal during fiscal year 1986 and may not exceed $400,000,000 of 
contingent liability for loan principal during fiscal year 1987'' for 
``not to exceed $300,000,000 in the fiscal year 1985''.


                    Effective Date of 1985 Amendment

    Amendment by Pub. L. 99-83 effective Oct. 1, 1985, see section 1301 
of Pub. L. 99-83, set out as a note under section 2151-1 of this title.
