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SETTLEMENT AGREEMENT
This settlement agreement (the "Agreement") with respect to ENF-[ ] is made by and between the U.S. Depa11ment of the Treasury’s Office of Foreign Assets Control ("OFAC") and Fracht FWO Inc. including its subsidiaries, assignees, successors, and affiliates worldwide (collectively referred to hereafter as "Respondent'').
I. PARTIES
OFAC administers and enforces economic sanctions against targeted foreign countries, regimes, terrorists, international narcotics traffickers, human rights abusers, and proliferators of weapons of mass destruction, among others. OFAC acts under Presidential national emergency authorities, as well as authority granted by specific legislation, to impose controls on transactions and freeze assets under U.S. jurisdiction.
Respondent is an international freight forwarder, whose principal place of business in the United States is in Houston, Texas, and which maintains offices in large pod cities throughout the United States. Respondent's core business function is...
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1) Refer to Enforcement Release: Fracht FWO Inc. for consolidated comment on the Enforcement Release and Settlement Agreement.