Facebook pixel

In keeping with the United States' comprehensive Iran sanctions provisions, the Export-Import Bank performs due diligence on the transaction parties in all transactions, including their corporate affiliates. In addition, for any transaction that must be approved by EXIM Bank's Board of Directors, Congress has imposed restrictions to ensure that the businesses that EXIM Bank helps finance are not doing prohibited business with Iran. To meet these restrictions, EXIM Bank may require you to submit one or both of the following two certifications: The Activities Certification and the Sanctioned Persons Certification. These certifications, together with Frequently Asked Questions, are available at the following web pages: Iran Sanctions Activities Certification, Iran Sanctions Sanctioned Persons-Certification.

The Activities Certification must be submitted by each person that is (i) the recipient of the EXIM Bank guarantee or insurance and (ii) the recipient of the extension of credit supported by EXIM Bank. The "recipient of the credit" would normally be the borrower or lessee. The person completing the Activities Certification must complete it with respect to itself and persons that it owns or controls.

The Sanctioned Persons Certification must be submitted by each person that is the "Controlling Sponsor" of the recipient of the credit. If there is no Controlling Sponsor, the recipient of the credit must complete the Sanctioned Persons Certification. The person completing the Sanctioned Persons Certification must complete it with respect to itself and persons that it owns or controls, including the recipient of the credit. You can see a current list persons sanctioned under the Iran Sanctions Act at: http://www.state.gov/e/eb/tfs/spi/iran/index.htm.

Please see the forms for the relevant definitions of certain terms used in the certifications. If EXIM Bank requires you to submit one or both of these certifications, you may wish to consult legal counsel to ensure that you understand the certification. If EXIM Bank requires you to submit one or both of these certifications, and you fail to submit it for any reason, then EXIM Bank's Board of Directors cannot approve the transaction.

Consistent with U.S. sanctions policies, EXIM Bank's actions with respect to a credit may be affected by the actions of not only the recipient of the credit, but also its parent and affiliate companies. Each financing agreement will include a mandatory prepayment if at any time the recipient of the credit or its controlling sponsor, or any person that is owned or controlled by the recipient of the credit or its controlling sponsor, becomes subject to sanctions under the Iran Sanctions Act of 1996 (as amended).