[Code of Federal Regulations]
[Title 15, Volume 2]
[Revised as of January 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 15CFR700.63]

[Page 95]
 
                  TITLE 15--COMMERCE AND FOREIGN TRADE
 
  CHAPTER VII--BUREAU OF INDUSTRY AND SECURITY, DEPARTMENT OF COMMERCE
 
PART 700_DEFENSE PRIORITIES AND ALLOCATIONS SYSTEM--Table of Contents
 
                       Subpart I_Official Actions
 
Sec.  700.63  Letters of Understanding.

    (a) A Letter of Understanding is an official action which may be 
issued in resolving special priorities assistance cases to reflect an 
agreement reached by all parties (Commerce, the Delegate Agency, the 
supplier, and the customer).
    (b) A Letter of Understanding is not used to alter scheduling 
between rated orders, to authorize the use of priority ratings, to 
impose restrictions under this regulation, or to take other official 
actions. Rather, Letters of Understanding are used to confirm production 
or shipping schedules which do not require modifications to other rated 
orders.