[Code of Federal Regulations]
[Title 7, Volume 10]
[Revised as of January 1, 2008]
From the U.S. Government Printing Office via GPO Access
[CITE: 7CFR1486.406]

[Page 774]
 
                          TITLE 7--AGRICULTURE
 
  CHAPTER XIV--COMMODITY CREDIT CORPORATION, DEPARTMENT OF AGRICULTURE
 
PART 1486_EMERGING MARKETS PROGRAM--Table of Contents
 
               Subpart D_Contributions and Reimbursements
 
Sec. 1486.406  Will CCC make advance payments to Recipients?

    (a) Policy. In general, CCC operates the EMP on a cost reimbursable 
basis.
    (b) Exception. Upon request, CCC may make advance payments to a 
Recipient against an approved project budget. Up to 40 percent of the 
approved project budget may be provided as an advance, either at one 
time or in incremental payments. Advances should be limited to the 
minimum amounts needed and requested as close as is administratively 
feasible to the actual time of disbursement by the Recipient. 
Reimbursement claims will be used to offset advances. Recipients shall 
deposit and maintain advances in insured, interest-bearing accounts.
    (c) Refunds due CCC. A Recipient shall expend all advances within 90 
calendar days after the date of disbursement by CCC. A Recipient shall 
return all interest earned by advances plus any unexpended portion of 
the advance within 90 calendar days after the date of disbursement by 
CCC by submitting a check payable to CCC. All checks shall be mailed to 
the Director, Marketing Operations Staff, FAS, USDA.