Sec. 2. Clarification of payment terms under the Trade Sanctions Reform and Export Enhancement Act of 2000
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Section 908(b)(4) of the Trade Sanctions Reform and Export Enhancement Act of 2000 ( 22 U.S.C. 7207(b)(4) ) is amended— in subparagraph (B), by striking and at the end; in subparagraph (C), by striking the period at the end and inserting ; and ; and by adding at the end the following: the term payment of cash in advance means, notwithstanding any other provision of law, the payment by the purchaser of an agricultural commodity or product and the receipt of such payment by the seller prior to— the transfer of title of such commodity or product to the purchaser; and the release of control of such commodity or product to the purchaser. .
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Sec. 2
Clarification of payment terms under the Trade Sanctions Reform and Export Enhancement Act of 2000
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