General License (OFAC)

A regulatory authorization that permits a category of transactions otherwise prohibited by a sanctions program, without each party needing to apply individually. OFAC issues general licenses within its program regulations (31 CFR) or as standalone documents; they often cover wind-down periods, humanitarian trade, or maintenance of blocked property. A transaction outside the license’s exact terms remains prohibited and would need a specific license sought by application. Reliance on a general license requires meeting every stated condition and recordkeeping requirement.