Warranty of Non-Sanction Sample Clauses
A Warranty of Non-Sanction clause is a contractual assurance that neither party, nor any of their affiliates or representatives, is subject to international sanctions or restrictions imposed by governmental authorities. In practice, this clause requires each party to confirm that they are not listed on any sanctions lists, such as those maintained by the United States, European Union, or United Nations, and that they are not owned or controlled by sanctioned entities. The core function of this clause is to protect both parties from inadvertently engaging in prohibited transactions, thereby reducing legal and financial risks associated with violating sanctions regulations.
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Warranty of Non-Sanction. Vendor represents and warrants that neither Vendor, nor its directors, officers, employees, agents or subcontractors, is (i) a “specially designated national” or blocked person under U.S. sanctions administered by the Office of Foreign Assets Control of the U.S. Department of the Treasury; (ii) located, organized, or resident in Iran, Sudan, Syria, Cuba, North Korea or the Crimean region of Ukraine; or (iii) directly or indirectly owned or controlled by or acting on behalf of a person described in (i) or (ii) above.