OFAC Offers Licenses to Three Businesses in Colombia
The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has adopted a policy to issue specific licenses, on a case-by-case basis, authorizing U.S. suppliers to engage in certain transactions with Colombian government-controlled entities, which have been designated by OFAC as Specially Designated Narcotics Traffickers (SDNTs) pursuant to 31 CFR Part 536. In accordance with this policy, on November 16, 2004 OFAC announced that the following three business are eligible for licenses:
-- Cooperativa Multiactiva de Empleados de Distribuidores de Drogas Copservir Ltda. (COPSERVIR), NIT #830011670-3, which manages the Drogas La Rebaja establishments in Colombia;
-- Cooperativa Multiactiva de Comercializacion y Servicios Farmacoop (FARMACOOP) NIT #830010878-3;
-- Cooperativa de Cosmeticos y Populares Cosmepop (COSMEPOP) NIT #800251322-5.
The government of Colombia took control of these companies in September 2004. By establishing a licensing policy for these entities, OFAC is attempting to ensure that these companies continue to operate in a legitimate manner under the control of the Government of Colombia.
U.S. suppliers seeking a license to sell products to COPSERVIR, FARMACOOP or COSMEPOP should submit a written license application in accordance with 31 CFR § 501.801(b) to OFAC. In addition to the information required by 31 CFR § 501.801(b)(3), the application must include a detailed description of the proposed transactions, the source and method of payment and a copy of a signed purchase request from any of the aforementioned cooperatives.
|posted by Douglas N. Jacobson| Permalink 
