Specific Licenses

2) Specific Licenses: Transactions that are not legal on their face and that require specific authorization from OFAC. 

A specific license can be applied for and obtained through OFAC—unless restricted through explicit legislation—for transactions that would otherwise be considered “prohibited” according to existing regulations. A specific license is a written authorization issued by OFAC to a particular individual or entity that grants permission to engage in a specific transaction or activity. In the absence of such a specific license, the transaction or activity is deemed illegal. A specific license issued by OFAC to a certain individual or entity does not grant any other individual or entity the same permission.  

Transactions that are not legal on their face and that require specific authorization from OFAC.

A specific license can be applied for and obtained through OFAC—unless restricted through explicit legislation—for transactions would otherwise be considered “prohibited” according to existing regulations. A specific license is a written authorization issued by OFAC to a particular individual or entity that grants permission to engage in a specific transaction or activity. In the absence of such a specific license, the transaction or activity is deemed illegal. A specific license issued by OFAC to a certain individual or entity does not grant any other individual or entity the same permisssion.