[Code of Federal Regulations]

[Title 31, Volume 3]

[Revised as of July 1, 2005]

From the U.S. Government Printing Office via GPO Access

[CITE: 31CFR535.421]



[Page 150]

 

                  TITLE 31--MONEY AND FINANCE: TREASURY

 

 CHAPTER V--OFFICE OF FOREIGN ASSETS CONTROL, DEPARTMENT OF THE TREASURY

 

PART 535_IRANIAN ASSETS CONTROL REGULATIONS--Table of Contents

 

                        Subpart D_Interpretations

 

Sec. 535.421  Prior contractual commitments not a basis for licensing.



    Specific licenses are not issued on the basis that an unlicensed 

firm commitment or payment has been made in connection with a 

transaction prohibited by this part. Contractual commitments to engage 

in transactions subject to the prohibitions of this part should not be 

made, unless the contract specifically states that the transaction is 

authorized by general license or that it is subject to the issuance of a 

specific license.



[45 FR 24433, Apr. 9, 1980]