Loss Claim [Agriculture] Law and Legal Definition

According to 7 CFR 761.2 [Title 7 – Agriculture, Subtitle B - Regulations of the Department of Agriculture, Chapter VII - Farm Service Agency, Department of Agriculture, Subchapter D - Special Programs, Part 761 - General Program Administration, Subpart A - General Provisions], loss claim is “a request made to the Agency by a lender to receive a reimbursement based on a percentage of the lender's loss on a loan covered by an Agency guarantee.”