OFAC License Application Mistakes and How to Fix Them with an Amendment
OFAC’s Formal Requirements: Few Rules, But No Reason to Relax
The Office of Foreign Assets Control of the U.S. Department of the Treasury (OFAC) does not impose rigid procedural requirements on the form of an OFAC specific license application. The regulatory framework, primarily 31 C.F.R. § 501.801, provides only general guidance: describe the nature of the request, identify the parties...