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]

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.

This list is taken from the Parallel Table of Authorities and Rules provided by GPO [Government Printing Office].

It is not guaranteed to be accurate or up-to-date, though we do refresh the database weekly. More limitations on accuracy are described at the GPO site.

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

Title 31 published on 17-Nov-2018 03:48

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 31 CFR Part 535 after this date.

  • 2018-03-19; vol. 83 # 53 - Monday, March 19, 2018
    1. 83 FR 11876 - Inflation Adjustment of Civil Monetary Penalties
      GPO FDSys XML | Text
      DEPARTMENT OF THE TREASURY, Office of Foreign Assets Control, Office of the Secretary of the Treasury
      Final rule.
      Effective March 19, 2018.
      31 CFR Part 50