Code of Federal Regulations · Section

§ 515.406 — Drafts Under Irrevocable Letters Of Credit; Documentary Drafts

31 C.F.R. § 515.406

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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. § 515.405 31 C.F.R. § 515.407

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