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A general license authorizes a particular type of transaction for a class of persons without the need to apply for a license. A specific license is a written document issued by OFAC to a particular person or entity, authorizing a particular transaction in response to a written license application.
Is there a cost for using OFAC? No. OFAC is available at no cost to agencies enrolled in the Do Not Pay (DNP) Portal. How does using this data source help my agency?
OFAC authorities may require U.S. persons to block all property and interests in property of certain persons, known as blocked persons. When this is the case, any property and interests in property of a blocked person that are within the United States or within the possession or control of a U.S. person must be
While there is no guarantee or exact science to determining how long the entire process might take, from prior experience, it takes between four and six months for OFAC to rule on simpler transactions. License applications covering more complex transactions can take up to a year or longer for them to process.
A specific license is a written document issued by OFAC to a particular person or entity, authorizing a particular transaction in response to a written license application. Persons engaging in transactions pursuant to general or specific licenses must make sure that all conditions of the licenses are strictly observed.
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It could take anywhere from six to thirty months to receive OFACs decision on an unblocking application. Unfortunately for those who have had their funds blocked due to mistaken identity, there are no legal means to expedite the process.

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