; (2) an identification of the recipient or beneficiary; and (3) a description of the project, activity, or asset and the development goal or purpose to be achieved by providing support by the Corporation. (c) Bilateral agreements The Chief Executive Officer of the Corporation shall notify the appropriate congressional committees not later than 30 days after entering into a new bilateral agreement described in section 1431(a). V Conditions, restrictions, and prohibitions 1451. Limitations and preferences (a) Limitation on support for single entity No entity receiving support from the Corporation under title II may receive more than an amount equal to 5 percent of the Corporation’s maximum contingent liability authorized under section 1433. (b) Preference for support for projects sponsored by United States persons (1) In general The Corporation should give preferential consideration to projects sponsored by or involving private sector entities that are United States persons. (2) United states person defined In this subsection, the term United States person means— (A) a United States citizen