31 CFR 535.567 - Payment under advised letters of credit.

§ 535.567 Payment under advised letters of credit.
(a) Specific licenses may be issued for presentation, acceptance, or payment of documentary drafts under a letter of credit opened by an Iranian entity and advised by a domestic bank or an Iranian bank subject to the jurisdiction of the United States, provided, That:
(1) The letter of credit was advised prior to the effective date;
(2) The property which is the subject of the payment under the letter of credit was not in the possession or control of the exporter on or after the effective date;
(3) The Beneficiary is a person subject to the jurisdiction of the United States.
(b) As a general matter, licenses will not be issued if the amount to be paid to a single payee exceeds $500,000, or if hardship cannot be shown.
[44 FR 75354, Dec. 19, 1979]

Title 31 published on 2013-07-01

no entries appear in the Federal Register after this date.

This is a list of United States Code sections, Statutes at Large, Public Laws, and Presidential Documents, which provide rulemaking authority for this CFR Part.

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United States Code
Statutes at Large
Public Laws
Presidential Documents

Executive Order ... 12170

Executive Order ... 12205

Executive Order ... 12211

Executive Order ... 12276

Executive Order ... 12279--12283 range

Executive Order ... 12294