Title 22, Foreign Relations and IntercourseRelease 119-102
§294a Contracts Requiring Payment in Foreign Currency
Title 22 › CHAPTER 8 — FOREIGN SERVICE BUILDINGS › § 294a
Summary
Secretary of State can buy foreign money when a contract to build, change, or repair a Foreign Service building requires payment in that currency. He may buy the amounts and at the times he thinks necessary, up to the total the contract requires, and the currency he buys must be paid out and recorded at the price he paid for it.
Full Legal Text
Title 22, §294a
Foreign Relations and Intercourse, Source: USLM XML via OLRC
Whenever a contract is made for the construction, alteration, or repair of a Foreign Service building which requires payments in a foreign currency, the Secretary of State is authorized to purchase such currency at such times and in such amounts (within the total amount of the payments to be made under such contract) as he may deem necessary, the currency so purchased to be disbursed and accounted for at its cost price.
Legislative History
Notes & Related Subsidiaries
Editorial Notes
Codification Section was not enacted as a part of the Foreign Service Buildings Act, 1926, which comprises this chapter.
Prior Provisions
Prior similar provisions were contained in act June 29, 1939, ch. 248, title I, 53 Stat. 890.
Reference
Citations & Metadata
Citation
22 U.S.C. § 294a
Title 22, Foreign Relations and Intercourse
Last Updated
Aug 21, 2026
Release point: 119-102