Large Firm Quality, Small Firm Atmosphere

November 29, 2019

OFAC Licenses: Do You Need a General License or a Specific License?

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In order to transfer assets as a specially designated national (SDN) or to engage in transactions involving an SDN’s blocked assets, it is necessary to obtain a license from the Office of Foreign Asset Control (OFAC). OFAC issues two types of licenses – general and specific – and all license applications must contain information that is specific type of license being sought. Due to the complexities involved in the application process, it is advisable for all SDNs, creditors and other license applicants to seek guidance from an OFAC attorney.   Read More

Categories: OFAC Licensing and Litigation