§ 2762. Procurement for cash sales

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1. 1968

   The Foreign Military Sales Act

   Pub. L. 90–629 · 82 Stat. 1320

   Enacted · 22 U.S.C. § 2762

   Pub. L. 90–629, ch. 2, § 22, Oct. 22, 1968, 82 Stat. 1323

   Source evidence

   Code source credit
   Pub. L. 90–629, ch. 2, § 22, Oct. 22, 1968, 82 Stat. 1323

2. 1973

   Foreign Assistance Act of 1973

   Pub. L. 93–189 § 25(3) · 87 Stat. 714

   1. Amended · 22 U.S.C. § 2762

      Pub. L. 93–189 designated text preceding first proviso as subsec. (a)

   2. Inserted · 22 U.S.C. § 2762

      Pub. L. 93–189 inserted “Except as otherwise provided in this section,” before “the President”

   3. Amended · 22 U.S.C. § 2762

      Pub. L. 93–189 designated first proviso as subsec. (b)

   4. Inserted · 22 U.S.C. § 2762

      Pub. L. 93–189 inserted reference to acceptance of a dependable undertaking of a foreign country or international organization

   5. Struck · 22 U.S.C. § 2762

      Pub. L. 93–189 struck out further provisions setting forth Presidential powers with respect to sales agreements with and payments by purchasing countries or international organizations

   Source evidence

   Code amendment note
   Pub. L. 93–189 designated text preceding first proviso as subsec. (a) and inserted “Except as otherwise provided in this section,” before “the President”, designated first proviso as subsec. (b) and inserted reference to acceptance of a dependable undertaking of a foreign country or international organization, and struck out further provisions setting forth Presidential powers with respect to sales agreements with and payments by purchasing countries or international organizations.

   Enacted provision · exact public law section
   (3) Section 22 is amended to read as follows: “Sec. 22. Procurement for Cash Sales.— (a) Except as otherwise provided in this section, the President may, without requirement for charge to any appropriation or contract authorization otherwise provided, enter into contracts for the procurement of defense articles or defense services for sale for United States dollars to any foreign country or international organization if such country or international organization provides the United States Government with a dependable undertaking (1) to pay the full amount of such contract which will assure the United States Government against any loss on the contract, and (2) to make funds available in such amounts and at such times as may be. required to meet the payments required by the contract, and any damages and costs that may accrue from the cancellation of such contract, in advance of the time such payments, damages, or costs are due. “(b) The President may, when he determines it to lie in the national interest, accept a dependable undertaking of a foreign country or international organization with respect to any such sale, to make full payment within 120 days after delivery of the defense articles or the rendering of the defense services. Appropriations available to the Department of Defense may be used to meet the payments required by the contracts for the procurement of defense articles and defense services and shall be reimbursed by the amounts subsequently received from the country or international organization to whom articles or services are sold.”

3. 1976

   International Security Assistance and Arms Export Control Act of 1976

   Pub. L. 94–329 § 207(a) · 90 Stat. 729

   Inserted · 22 U.S.C. § 2762(a)

   Pub. L. 94–329, § 207(a), inserted provisions requiring interest to be charged on any net amount a country or international organization is in arrears and the rate of interest to be determined by the Secretary of Treasury considering current average market yield of short-term obligations of United States on a particular day

   Source evidence

   Code amendment note
   Subsec. (a). Pub. L. 94–329, § 207(a), inserted provisions requiring interest to be charged on any net amount a country or international organization is in arrears and the rate of interest to be determined by the Secretary of Treasury considering current average market yield of short-term obligations of United States on a particular day.

   Enacted provision · exact public law section
   (a) Section 22(u) of the Foreign Military Sales Act is amended by adding at the end thereof the following: “Interest shall be charged on any net amount by which any such country or international organization is in arrears under all of its outstanding unliquidated Interest rate. dependable undertakings, considered collectively. The rate of interest, charged shall be a rate not less than a rate determined by the Secretary of the Treasury taking into consideration the current average market yield on outstanding short-term obligations of the United States as of the last, day of the month preceding the net arrearage and shall be computed from the date of net arrearage.”.

4. 1976

   International Security Assistance and Arms Export Control Act of 1976

   Pub. L. 94–329 § 207(b) · 90 Stat. 729

   Substituted · 22 U.S.C. § 2762(b)

   Pub. L. 94–329, § 207(b), substituted provisions authorizing President to issue letters of offer with provisions for billing on delivery of article or rendering of service and payment within 120 days after billing date where President determines that emergency conditions exist, for provisions authorizing President to accept a dependable undertaking of a foreign country or international organization with respect to sales of defense articles and services and to make payment within 120 days of delivery of article or rendering of service

   Source evidence

   Code amendment note
   Subsec. (b). Pub. L. 94–329, § 207(b), substituted provisions authorizing President to issue letters of offer with provisions for billing on delivery of article or rendering of service and payment within 120 days after billing date where President determines that emergency conditions exist, for provisions authorizing President to accept a dependable undertaking of a foreign country or international organization with respect to sales of defense articles and services and to make payment within 120 days of delivery of article or rendering of service.

   Enacted provision · exact public law section
   (b) Section 22(b) of the Foreign Military Sales Act is amended by striking out the first sentence and inserting in lieu thereof the following: “The President may, if he determines it to be in the national interest, issue letters of offer under this section which provide for billing upon delivery of the defense article or rendering of the defense service and for payment within one hundred and twenty days after the date of billing. This authority may be exercised, however, only if the President also determines that the emergency requirements of the purchaser for acquisition of such defense articles and services exceed the ready availability to the purchaser of funds sufficient to make payments on a dependable undertaking basis and submits both determinations to the Congress together with a special emergency request for authorization and appropriation of additional funds to finance such purchases under this Act.”.

5. 1978

   Pub. L. 95–384 § 17 · 92 Stat. 730

   Added · 22 U.S.C. § 2762(c)

   Pub. L. 95–384 added subsec. (c)

   Source evidence

   Code amendment note
   Subsec. (c). Pub. L. 95–384 added subsec. (c).

   Enacted provision · exact public law section
   Sec. 17. Section 22 USC 2762. 22 of the Arms Export Control Act is amended by adding at the end thereof the following new subsection: “(c) The provisions of the Renegotiation Act of 1951 do not apply to contracts 50 USC app. 1211 note. for the procurement of defense, articles and defense services heretofore or hereafter entered into under this section or predecessor provisions of law.”.

6. 1980

   International Security and Development Cooperation Act of 1980

   Pub. L. 96–533 title I § 105(b)(2) · 94 Stat. 3131

   1. Substituted · 22 U.S.C. § 2762(c)

      Pub. L. 96–533 substituted “procurement contracts” for “contracts for the procurement of defense articles and defense services”

   2. Inserted · 22 U.S.C. § 2762(c)

      Pub. L. 96–533 inserted reference to contracts entered into under section 2769 of this title

   Source evidence

   Code amendment note
   Subsec. (c). Pub. L. 96–533 substituted “procurement contracts” for “contracts for the procurement of defense articles and defense services” and inserted reference to contracts entered into under section 2769 of this title.

   Enacted provision · exact public law section
   (2) Section 22(c) of such Act is amended to read as follows: “(c) The provisions of the Renegotiation Act of 1951 do not apply to procurement contracts heretofore or hereafter entered into under Ante, p. 3133. 22 USC 2763, 2764, 2771. this section, section 29, or predecessor provisions of law.”.

7. 1996

   Pub. L. 104–107 title V § 531A(a) · 110 Stat. 704

   Added · 22 U.S.C. § 2762(d)

   Pub. L. 104–107 added subsec. (d)

   Source evidence

   Code amendment note
   Subsec. (d). Pub. L. 104–107 added subsec. (d).

   Enacted provision · exact public law section
   (a) Costing Basis.— Section 22 of the Arms Export Control Act (22 U.S.C. 2762) is amended by adding at the end the following: “(d) Competitive Pricing.— Procurement contracts made in implementation of sales under this section for defense articles and defense services wholly paid for from funds made available on a nonrepayable basis shall be priced on the same costing basis with regard to profit, overhead, independent research and development, bid and proposal, and other costing elements, as is applicable to procurements of like items purchased by the Department of Defense for its own use.”.

8. 1999

   District of Columbia Appropriations Act, 2000

   Pub. L. 106–113 div. B § 1000(a)(7)(dB)(tXII)(s1223) · 113 Stat. 1501

   1. Amended · 22 U.S.C. § 2762(d)

      Pub. L. 106–113 designated existing provisions as par. (1)

   2. Added · 22 U.S.C. § 2762(d)

      Pub. L. 106–113 added par. (2)

   Source evidence

   Code amendment note
   Subsec. (d). Pub. L. 106–113 designated existing provisions as par. (1) and added par. (2).

11 of 14 references resolved to an enrolled provision · 3 partial