# 22 U.S.C. § 2762: Procurement for cash sales

> Federal · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/usc_t22_s2762

## Section

- **Citation:** 22 U.S.C. § 2762
- **Heading:** Procurement for cash sales
- **Jurisdiction:** Federal
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** September 9, 2026
- **Source:** Publisher's official text
- **Location:** Title 22—FOREIGN RELATIONS AND INTERCOURSE > CHAPTER 39—ARMS EXPORT CONTROL > SUBCHAPTER II—FOREIGN MILITARY SALES AUTHORIZATIONS

## Text

Except as otherwise provided in this section, the President may, without requirement for charge to any appropriation or contract authorization otherwise provided, enter into contracts for the procurement of defense articles or defense services for sale for United States dollars to any foreign country or international organization if such country or international organization provides the United States Government with a dependable undertaking (1) to pay the full amount of such contract which will assure the United States Government against any loss on the contract, and (2) to make funds available in such amounts and at such times as may be required to meet the payments required by the contract, and any damages and costs that may accrue from the cancellation of such contract, in advance of the time such payments, damages, or costs are due. Interest shall be charged on any net amount by which any such country or international organization is in arrears under all of its outstanding unliquidated dependable undertakings, considered collectively. The rate of interest charged shall be a rate not less than a rate determined by the Secretary of the Treasury taking into consideration the current average market yield on outstanding short-term obligations of the United States as of the last day of the month preceding the net arrearage and shall be computed from the date of net arrearage.

( Pub. L. 90–629 , ch. 2, § 22, Oct. 22, 1968 , 82 Stat. 1323 ; Pub. L. 93–189, § 25(3) , Dec. 17, 1973 , 87 Stat. 730 ; Pub. L. 94–329, title II, § 207 , June 30, 1976 , 90 Stat. 738 ; Pub. L. 95–384, § 17 , Sept. 26, 1978 , 92 Stat. 740 ; Pub. L. 96–533, title I, § 105(b)(2) , Dec. 16, 1980 , 94 Stat. 3134 ; Pub. L. 104–107, title V, § 531A(a) , Feb. 12, 1996 , 110 Stat. 731 ; Pub. L. 106–113, div. B, § 1000(a)(7) [div. B, title XII, § 1223] , Nov. 29, 1999 , 113 Stat. 1536 , 1501A–498.)

## Nearby sections

- [22 U.S.C. § 2751 Need for international defense cooperation and military export controls; Presidential waiver; report to Congress; arms sales policy](https://www.frixlaw.com/law-library/statutes/usc_t22_s2751.md)
- [22 U.S.C. § 2752 Coordination with foreign policy](https://www.frixlaw.com/law-library/statutes/usc_t22_s2752.md)
- [22 U.S.C. § 2753 Eligibility for defense services or defense articles](https://www.frixlaw.com/law-library/statutes/usc_t22_s2753.md)
- [22 U.S.C. § 2754 Purposes for which military sales or leases by the United States are authorized; report to Congress](https://www.frixlaw.com/law-library/statutes/usc_t22_s2754.md)
- [22 U.S.C. § 2755 Discrimination prohibited if based on race, religion, national origin, or sex](https://www.frixlaw.com/law-library/statutes/usc_t22_s2755.md)
- [22 U.S.C. § 2756 Foreign intimidation and harassment of individuals in United States](https://www.frixlaw.com/law-library/statutes/usc_t22_s2756.md)
- [22 U.S.C. § 2761 Sales from stocks](https://www.frixlaw.com/law-library/statutes/usc_t22_s2761.md)
- [22 U.S.C. § 2762 Procurement for cash sales](https://www.frixlaw.com/law-library/statutes/usc_t22_s2762.md)
- [22 U.S.C. § 2763 Credit sales](https://www.frixlaw.com/law-library/statutes/usc_t22_s2763.md)
- [22 U.S.C. § 2764 Guaranties](https://www.frixlaw.com/law-library/statutes/usc_t22_s2764.md)
- [22 U.S.C. § 2765 Annual estimate and justification for sales program](https://www.frixlaw.com/law-library/statutes/usc_t22_s2765.md)
- [22 U.S.C. § 2766 Security assistance surveys](https://www.frixlaw.com/law-library/statutes/usc_t22_s2766.md)
- [22 U.S.C. § 2767 Authority of President to enter into cooperative projects with friendly foreign countries](https://www.frixlaw.com/law-library/statutes/usc_t22_s2767.md)
- [22 U.S.C. § 2767a Repealed. Pub. L. 101–189, div. A, title IX, § 931(d)(2) , Nov. 29, 1989 , 103 Stat. 1535](https://www.frixlaw.com/law-library/statutes/usc_t22_s2767a.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/usc_t22_s2762. Check the current official text before relying on it. Not legal advice.