General Contract Clauses: Export Regulation (OFAC Proper Funding) | Practical Law

General Contract Clauses: Export Regulation (OFAC Proper Funding) | Practical Law

A Standard Clause a US exporter can include in an international supply or sale of goods agreement to obtain the buyer's assurance that it did not obtain any funds to facilitate the purchase of the goods from any person or entity that is the subject of any economic or trade sanctions imposed by the US Department of the Treasury's Office of Foreign Assets Control (OFAC) or other government authorities. This Standard Clause has integrated notes with important explanations and drafting and negotiating tips.

General Contract Clauses: Export Regulation (OFAC Proper Funding)

Practical Law Standard Clauses 6-598-4105 (Approx. 9 pages)

General Contract Clauses: Export Regulation (OFAC Proper Funding)

by Practical Law Commercial Transactions
MaintainedUSA (National/Federal)
A Standard Clause a US exporter can include in an international supply or sale of goods agreement to obtain the buyer's assurance that it did not obtain any funds to facilitate the purchase of the goods from any person or entity that is the subject of any economic or trade sanctions imposed by the US Department of the Treasury's Office of Foreign Assets Control (OFAC) or other government authorities. This Standard Clause has integrated notes with important explanations and drafting and negotiating tips.