extension of payment period for credit sales

extension of payment period for credit sales Sec. 208. (a) Paragraph (1) of section 23 of the Foreign Military Sales Act is amended by striking out “ten years” and inserting in lieu thereof “twelve years”. (b) The amendment made by subsection (a) shall apply with respect to financing under agreements entered into on or after the date of enactment of this Act for the procurement of defense articles to be delivered, or defense services to be rendered, after such date.