31 CFR § 515.534 - Negotiation of, and entry into, contingent contracts relating to transactions prohibited by this part.
---identifier: "/us/cfr/t31/s515.534"source: "ecfr"legal_status: "authoritative_unofficial"title: "31 CFR § 515.534 - Negotiation of, and entry into, contingent contracts relating to transactions prohibited by this part."title_number: 31title_name: "Money and Finance: Treasury"section_number: "515.534"section_name: "Negotiation of, and entry into, contingent contracts relating to transactions prohibited by this part."chapter_name: "OFFICE OF FOREIGN ASSETS CONTROL, DEPARTMENT OF THE TREASURY"part_number: "515"part_name: "CUBAN ASSETS CONTROL REGULATIONS"positive_law: falsecurrency: "2026-04-05"last_updated: "2026-04-05"format_version: "1.1.0"generator: "[email protected]"authority: "22 U.S.C. 2370(a), 6001-6010, 7201-7211; 31 U.S.C. 321(b); 50 U.S.C. 4301-4341; Pub. L. 101-410, 104 Stat. 890 (28 U.S.C. 2461 note); 22 U.S.C. 6021-6091; Pub. L. 105-277, 112 Stat. 2681; Pub. L. 111-8, 123 Stat. 524; Pub. L. 111-117, 123 Stat. 3034; E.O. 9989, 13 FR 4891, 3 CFR, 1943-1948 Comp., p. 748; Proc. 3447, 27 FR 1085, 3 CFR, 1959-1963 Comp., p. 157; E.O. 12854, 58 FR 36587, 3 CFR, 1993 Comp., p. 614."regulatory_source: "28 FR 6974, July 9, 1963, unless otherwise noted."cfr_part: "515"---
Identifier
/us/cfr/t31/s515.534
Currency
2026-04-05
Positive Law
No
Updated
2026-04-05
Chapter
Office of Foreign Assets Control, Department of the Treasury
Authority
22 U.S.C. 2370(a), 6001-6010, 7201-7211; 31 U.S.C. 321(b); 50 U.S.C. 4301-4341; Pub. L. 101-410, 104 Stat. 890 (28 U.S.C. 2461 note); 22 U.S.C. 6021-6091; Pub. L. 105-277, 112 Stat. 2681; Pub. L. 111-... 22 U.S.C. 2370(a), 6001-6010, 7201-7211; 31 U.S.C. 321(b); 50 U.S.C. 4301-4341; Pub. L. 101-410, 104 Stat. 890 (28 U.S.C. 2461 note); 22 U.S.C. 6021-6091; Pub. L. 105-277, 112 Stat. 2681; Pub. L. 111-8, 123 Stat. 524; Pub. L. 111-117, 123 Stat. 3034; E.O. 9989, 13 FR 4891, 3 CFR, 1943-1948 Comp., p. 748; Proc. 3447, 27 FR 1085, 3 CFR, 1959-1963 Comp., p. 157; E.O. 12854, 58 FR 36587, 3 CFR, 1993 Comp., p. 614.
# 515.534 Negotiation of, and entry into, contingent contracts relating to transactions prohibited by this part.(a) Persons subject to the jurisdiction of the United States are authorized to enter into, and to engage in all transactions ordinarily incident to the negotiation of and entry into, contingent contracts for transactions that are prohibited by this part, provided that:(1) The performance of any such contingent contract is made expressly contingent on the prior authorization of the Office of Foreign Assets Control pursuant to this part or authorization no longer being required; and(2) The performance of any such contingent contract that is subject to licensing requirements of another Federal agency is expressly made contingent upon the prior authorization of that agency or the removal of those licensing requirements.(b) For purposes of this section, the term “contingent contracts” includes executory contracts, executory pro forma invoices, agreements in principle, executory offers capable of acceptance such as bids or proposals in response to public tenders, binding memoranda of understanding, or any other similar agreement.This section does not authorize transactions related to travel to, from, or within Cuba. See § 515.533(c) for a general license authorizing travel-related and other transactions incident to the negotiation of contracts for the exportation or reexportation of certain items to Cuba, and § 515.564(a)(2) for a general license authorizing travel-related and other transactions incident to attending or organizing professional meetings in Cuba, which include professional meetings relating to the negotiation of contingent contracts authorized by this section.(c) *Certain direct financial transactions restricted.* Nothing in this section authorizes a direct financial transaction prohibited by § 515.209.[81 FR 71375, Oct. 17, 2016, as amended at 82 FR 52000, Nov. 9, 2017; 85 FR 60070, Sept. 24, 2020; 87 FR 35089, June 9, 2022]