31 C.F.R. § 515.406

Current through March 31, 2024
Section 515.406 - Drafts under irrevocable letters of credit; documentary drafts

Section 515.201 prohibits the presentation, acceptance or payment of:

(a) Drafts or other orders for payment drawn under irrevocable letters of credit issued in favor or on behalf of any designated national;
(b) Drafts or other orders for payment, in which any designated national has on or since the "effective date" had any interest, drawn under any irrevocable letter of credit; and
(c) Documentary drafts in which any designated national has on or since the "effective date" had any interest.

31 C.F.R. §515.406