CFR > Title 7 - Agriculture > SUBTITLE B—Regulations of the Department of Agriculture > CHAPTER XIV—COMMODITY CREDIT CORPORATION, DEPARTMENT OF AGRICULTURE (parts 1400 to 1499) > SUBCHAPTER B—LOANS, PURCHASES, AND OTHER OPERATIONS (parts 1410 to 1499) > PART 1486—EMERGING MARKETS PROGRAM > SUBPART D—Contributions and Reimbursements (§1486.400 to §1486.406) > 1486.406—Will CCC make advance payments to Recipients?

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.