Section 635a-1 - Export credit competition(a) The President is authorized and requested to begin negotiations at the ministerial level with other major exporting countries to end predatory export financing programs and other forms of export subsidies, including mixed credits, in third country markets as well as within the United States. The President shall report to the Congress prior to January 15, 1979, on progress toward meeting the goals of this section.(b) The Export-Import Bank of the United States is authorized to provide guarantees, insurance, and extensions of credit at rates and terms and other conditions which are, in the opinion of the Board of Directors of the Bank, competitive with those provided by the government-supported export credit instrumentalities of other nations.Pub. L. 95-630, title XIX, §1908, Nov. 10, 1978, 92 Stat. 3725.EDITORIAL NOTES
CODIFICATIONSection was enacted as part of the Export-Import Bank Act Amendments of 1978, and not as part of the Export-Import Bank Act of 1945 which comprises this subchapter.
STATUTORY NOTES AND RELATED SUBSIDIARIES
EFFECTIVE DATESection effective Nov. 10, 1978, see section 1917 of Pub. L. 95-630 set out as an Effective Date of 1978 Amendment note under section 635 of this title.
- credit
- The term "credit" means the right granted by a person to a consumer to defer payment of a debt, incur debt and defer its payment, or purchase property or services and defer payment for such purchase.