[Code of Federal Regulations]
[Title 7, Volume 10]
[Revised as of January 1, 2007]
From the U.S. Government Printing Office via GPO Access
[CITE: 7CFR1403.10]

[Page 355]
 
                          TITLE 7--AGRICULTURE
 
  CHAPTER XIV--COMMODITY CREDIT CORPORATION, DEPARTMENT OF AGRICULTURE
 
PART 1403_DEBT SETTLEMENT POLICIES AND PROCEDURES--Table of Contents
 
Sec.  1403.10  Waiver of late payment interest, additional interest and 

administrative charges.

    (a) Except for debts resulting from price support loans, CCC shall 
waive the collection of late payment interest and administrative charges 
on a debt or any portion of a debt which is paid within 30 days after 
the date on which late payment interest began to accrue.
    (b) CCC may waive the assessment and collection of all or a portion 
of the additional interest on debts which are appealed in accordance 
with 7 CFR part 780, or other applicable appeal procedures, from either 
the date of the appeal or the date of delinquency, as determined by CCC, 
until the date a final administrative determination is issued. However, 
with respect to CCC programs administered by the Foreign Agricultural 
Service, CCC shall waive the assessment and collection of additional 
interest on debts which are appealed in accordance with 7 CFR part 780, 
or other applicable appeal procedures, from the date of delinquency 
until 30 days after the date of the letter informing the appellant of 
the final administrative determination. The waiver provisions of the 
paragraph shall not apply during any period of delay due to:
    (1) The appellant's request for a postponement of the scheduled 
hearing;
    (2) The appellant's request for an additional time following the 
hearing to present additional information or a written closing 
statement; or
    (3) The appellant's failure to timely present information to the 
reviewing authority.
    (c) Assessment and collection of late payment interest, additional 
interest and administrative charges under this part may be waived by CCC 
in full, or in part, if it is determined that such action is in the best 
interest of CCC.

[54 FR 52878, Dec. 22, 1989, as amended at 56 FR 66956, Dec. 27, 1991]