7 CFR 1499.2 - Definitions.
The following definitions are applicable to this part:
Activity means a project to be carried out by a participant, directly or through a subrecipient, to fulfill the objectives of an agreement.
Agreement means a legally binding agreement entered into between CCC and a participant to implement activities under FFPr.
CCC means the Commodity Credit Corporation and includes any official of the United States delegated the responsibility to act on behalf of CCC.
CCC-provided funds means U.S. dollars provided under an agreement to a participant for expenses for the internal transportation, storage and handling of the donated commodities, expenses involved in the administration and monitoring of the activities under the agreement, and technical assistance related to the monetization of donated commodities.
Commodities mean U.S. agricultural commodities or products of U.S. agricultural commodities.
Donated commodities means the commodities donated by CCC to a participant under an agreement. The term may include donated commodities that are used to produce a further processed product for use under the agreement.
FAS means the Foreign Agricultural Service acting on behalf of CCC.
FFPr means the Food for Progress Program.
Force majeure is a common clause in contracts, exempting the parties for non-fulfillment of their obligations as a result of conditions beyond their control, such as earthquakes, floods or war.
Income means interest earned on sale proceeds and other resources received by a participant, other than sale proceeds, as a result of carrying out an agreement. The term may include resources from VAT refunds, activity fees, interest on loans, and other sources.
Participant means an entity with which CCC has entered into an agreement.
Subrecipient means a legal entity that receives donated commodities, income, sale proceeds or other resources from a participant for the purpose of implementing in the targeted country activities described in a FFPr agreement and that is accountable to such participant for the use of such commodities, funds, or resources. The term may include foreign or international organizations (such as agencies of the United Nations) at the discretion of FAS.
Sale proceeds mean funds received by a participant from the sale of donated commodities.
Targeted country means the country in which activities are implemented under an agreement.
Title 7 published on 2014-01-01
no entries appear in the Federal Register after this date.