46 C.F.R. § 298.25

Current through September 30, 2024

Section 298.25 - Excess interest or other consideration

We shall not execute Guarantees if any agreement in the Documentation directly or indirectly provides for:

(a) The payment to an Obligee of interest, or other compensation for services which have not been performed, in a manner that such compensation or payment is being provided as interest in excess of the rate approved by us; or

(b) Grants of security to an Obligee in addition to the Guarantees.

46 C.F.R. § 298.25