Kansas Administrative Regulations
Agency 110 - KANSAS DEPARTMENT OF COMMERCE
Article 40 - KANSAS EXPORT FINANCE ACT
Section 110-40-8 - Guarantee agreement
Universal Citation: KS Admin Regs 110-40-8
Current through Register Vol. 43, No. 52, December 26, 2024
(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.
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