United States Court of Appeals,
Fourth Circuit
COMET ENTERPRISES LTD., and Comet Enterprise Ltd., Appellants,
v.
AIR-A-PLANE CORPORATION, Appellee.
Nos. 96-1606.
August, 1997.
ON APPEAL FROM THE UNITED STATES DISTRICT COURT FOR THE EASTERN DISTRICT OF VIRGINIA
Brief for United States as Amicus Curiae
Of Counsel: William B. Hoffman, Chief Counsel, Barbara C. Hammerle, Senior Counsel (Litigation), Office of the Chief Counsel Office of Foreign Assets Control, Department of the Treasury
[...]
INTEREST OF THE UNITED STATES AS AMICUS CURIAE
This contract dispute between two private parties presents questions of first impression regarding the interpretation of Executive Order No. 12959, which prohibits many forms of commerce between the United States and. Iran, and the implementing regulations set forth at 31...
1) OFAC Amicus Brief interpreting several provisions, since amended, of the ITR (now ITSR). In general, this dispute can be characterized as a U.S. company attempting to use the ITR and associated executive orders to avoid complying with the terms of a contract of which performance was specifically licensed.
2) The brief says that "as general matter, OFAC has considered commission payments for authorized, completed sales transactions to fall within the definition of 'financing agreements.'" Financing agreements (in quotes) derives from the text of the part of the relevant EO referring to "letters of credit and other financing agreements with respect to existing trade contracts," but query whether references to "financing" throughout the regulations in general likewise encompass commission arrangements....