Kan. Admin. Regs. § 110-40-8 - Guarantee agreement
(a) A
guarantee agreement between the department and the lender shall be prepared by
the director's office.
(b) The
guarantee agreement shall contain two parts consisting of:
(1) a set of general terms and conditions
which will be applicable to all Kansas export transactions; and
(2) an attachment to the general terms and
conditions designed to identify the specific terms and conditions of each
individual transaction.
(c) A guarantee fee as provided in K.S.A.
1989 Supp. 74-5072(c) shall be paid by the lender to the department. The fee
shall not be refundable and shall be paid:
(1) not less than five business days from
execution of the guarantee agreement by the secretary of commerce; or
(2) not later than the date of the
first disbursement under the guaranteed loan, whichever is earlier.
Notes
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