This site uses cookies to improve your browsing experience, gather site analytics and activity, track shopping cart contents, and deliver relevant marketing information.
View our privacy policy and manage your settings here. By using our site you agree to these terms.

5.3 Negotiation of International Insurance Agreements

<< Title V Overview

5.3 Negotiation of International Insurance Agreements

5.3.       Negotiation of International Insurance Agreements.

The Treasury Secretary and the Trade Representative are jointly authorized to negotiate and enter into international insurance agreements on behalf of the U.S. [§502(a)/§314(a)] Before initiating negotiations for these agreements, during the negotiations, and before entering into an international insurance agreement, the Treasury Secretary and the Trade Representative must jointly consult with certain Congressional Committees. [§502(a)/§314(b)] An international insurance agreement “may enter into force” with respect to the United States only if: (i) the Treasury Secretary and the Trade Representative jointly submit to the Committees on a day on which both Houses of Congress are in session a copy of the final legal text of the agreement; and (ii) a period of 90 calendar days from the date of submission has expired. [§502(a)/§314(c)]