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Sanctions Undertaking

Повне найменування (Eng.)

Registration number Код компанії

Адреса місцезнаходження (юридична адреса) (Eng.)

Sanctions Undertaking


1. Definitions

Affiliate: means in relation to the Customer any entity controlled, directly or indirectly, by the Customer, any entity that controls, directly or indirectly, the Customer or any entity directly or indirectly under common control with the Customer.  For this purpose, “control” of any entity or person means ownership of a majority of the voting power of the entity or person.

“Embargoed and Sanctioned Countries” means Cuba, Iran, Crimea Region of Ukraine, Donetsk People's Republic, Luhansk People's Republic, North Korea, and Syria and “Embargoed and Sanctioned Country” means each of them. 

"Restricted Party" means a person that is:

(a)                   listed on any Sanctions List.

(b)                   at least 50% owned or otherwise controlled (as such term is used and applied in the relevant Sanctions) by, or (to the knowledge of the Borrower) acting on behalf, or at the direction, of any persons that are listed on any Sanctions List; or

(c)                    otherwise, a target of Sanctions ("target of Sanctions") signifying a person with whom a US person or other national of a Sanctions Authority would be prohibited or restricted by law from engaging in trade, business, or other activities).

“Sanctions" means any economic, trade or financial sanctions laws, regulations, embargoes, or restrictive measures administered, enacted, or enforced by a Sanctions Authority.

"Sanctions Authorities" means the United States of America, the United Nations, the European Union, the United Kingdom, the United Arab Emirates or the respective governmental institutions and agencies of any of the foregoing, including, without limitation the Office of Foreign Asset Control of the US Department of the Treasury ("OFAC"), the United States Department of State, the United States Department of Commerce, and the UK Office of Financial Sanctions Implementation (“OFSI”)  and “Sanctions Authority” means each of them. 

"Sanctions List" means the "Specially Designated Nationals and Blocked Persons" Sectoral Sanctions Identifications and Foreign Sanctions Evaders lists maintained by OFAC, the Consolidated List of Financial Sanctions Targets (Asset Freeze Targets and the Investments Ban Lists) maintained by UK OFSI, or any similar lists maintained by, or public announcement of Sanctions designation made by, any of the Sanctions Authorities, each as amended, supplemented or substituted from time to time.


2.   Undertaking

On behalf of Повне найменування (Eng.) including all of its Affiliates (“Customer”), as a condition of receiving banking services from Повне найменування (Eng.) (“Bank name ”) and maintaining accounts with Bank name ,  Повне найменування (Eng.) hereby certifies and agrees to the following:

a)      Regardless of currency, Повне найменування (Eng.) shall not engage, or shall not permit to engage in any of the following transactions through accounts, facilities, any service, or product held with Bank name , related to:

                                   I.            Transactions related to Embargoed and Sanctioned Countries including its governments, or an entity owned or controlled by an Embargoed and Sanctioned Country.

                                 II.            Transactions involving or for the benefit of any Restricted Party.

                               III.            Transactions with, on behalf of, or for the benefit of any person or entity domiciled or operating out of or branch/ subsidiary / representative office of an entity or located in Embargoed and Sanctioned Countries.

                              IV.            Transactions involving (a) the purchase or sale of goods or services to or from Embargoed and Sanctioned Countries, either directly or indirectly through a third country.

                                V.            Transactions with, on behalf of, or for the benefit of an individual or entity targeted under a Sanctions List.


b)     Bank name may permit a transaction under Clause (2)(a), but without the obligation on Bank name ’s part to do so, provided that the Customer (i) has first notified Bank name in writing about the transaction; (ii) demonstrated that such transaction complies with all conditions related to the applicable Sanctions (as determined by Bank name  at its sole discretion); (iii) Bank name has agreed to process the transaction in accordance with Bank name 's compliance policies and procedures.


c)      Upon Bank name ’s request, Повне найменування (Eng.) shall provide all relevant information with respect to transactions or activities related to Повне найменування (Eng.) ’s accounts, facilities, services, or products held with Bank name , including but not limited to invoices or trade documents, as determined by Bank name


d)      Bank name reserves the right to reject or refuse any transaction related to Customer’s account(s) held with Bank name , in the event the Customer fails to comply with any of the obligations or restrictions set out in this Sanctions Undertaking.


e)     Повне найменування (Eng.) hereby authorize Bank name to reject any transaction and/or to terminate the relationship with us if we fail to act in accordance with this certification.



On behalf of Повне найменування (Eng.)


Authorized signatory: ПІБ представника (Eng.)

Company Stamp :

Name: ПІБ представника (Eng.)

Date: letter's date, (напр.:May 1, 2021)📆





Дата оновлення 11.04.2024 о 14:07:11


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