Applying for an OFAC Specific License: What You Need to Know
When no general license clearly authorizes a proposed transaction, an OFAC specific license may be required. A specific license is written authorization issued by OFAC to a particular person or entity for a particular transaction in response to a written application.
Our latest video provides a concise overview of the application process, including:
- Confirming that a specific license is necessary;
- Preparing the application package, including the parties, transaction details, legal basis, and supporting documents;
- Submitting the request through OFAC’s online Licensing Application Portal;
- Understanding what happens after filing, including case numbers, review timelines, and requests for additional information; and
- Following the license’s conditions and applicable recordkeeping requirements after receiving authorization.
Watch the full video: Applying for an OFAC Specific License: What You Need to Know
This video and post are provided for general informational purposes and do not constitute legal advice. Parties facing complex or high-risk sanctions matters should consult experienced sanctions counsel or contact OFAC directly.