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Implementing Regulations of Investment Promotion and Protection Act

The government of I.R. Iran welcomes foreign investments and urges all the foreign investors to attentively peruse Iran’s Foreign Investment Promotion and Protection Act (FIPPA) and its regulations to know their own rights and be informed of the facilities and protections they may enjoy as well as the legal obligations and requirements caused by investing […]

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The Uniform Customs and Practice for Documentary Credits 2007 (UCP 600)

The Uniform Customs and Practice for Documentary Credits (UCP) is a set of rules on the issuance and use of letter of credit. The UCP is utilized by bankers and commercial parties in more than 175 countries in trade finance. Some 11-15% of international trade utilizes letters of credit, totaling over a trillion dollars (US) […]

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International Commercial Terms (Incoterms) 2010

The International Commercial Terms or Incoterms are a series of pre-defined commercial terms published by the International Chamber of Commerce (ICC) relating to International Commercial Law. They are widely used in international commercial transactions or procurement processes as the use in international sales is encouraged by trade councils, courts and international lawyers. A series of three-letter trade […]

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Iranian Charter on Citizens’ Rights

“The Charter of Citizens’ Rights,” outlined by the administration of Iranian President, Hassan Rouhani, is to guarantee freedom of speech, protests, fair trials, and privacy. It includes some information about right to life, health and quality of life, right to human dignity and equality, right to freedom and personal security, right to self determination, right […]

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New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards

The provisions of the Convention on the Recognition and Enforcement of Foreign Arbitral Awards, adopted in New York in 1958 applies to the recognizing and enforcing the arbitral awards rendered in the territory of a State other than the State where the recognition and enforcement of such awards are sought, and arising out of differences between persons, whether […]

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Iranian Law of International Commercial Arbitration of 1997

The Law of International Commercial Arbitration was adopted in 1997 by the Iranian Parliament. Prior to its adoption, all arbitration proceedings in Iran were subject to Chapter 7 of Iran’s Civil Code (law regarding domestic arbitration). Since entry into force of the International Commercial Arbitration, the regime of domestic arbitrations has been differentiated from International […]

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Iranian Transactions and Sanctions Regulations

After adoption of Joint Comprehensive Plan of Action (“JCPOA”) between Iran and E3/EU3+3, Office of Foreign Assets Control (“OFAC”) amended the “Iranian Transactions and Sanctions Regulations”. As a result of this amendment, prohibitions on importation to United States or transactions of Iranian-originated goods, specially foodstuffs and carpet, as mentioned in the JCPOA were terminated. To […]

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Lifting Canadian Sanctions on Iran

The government of Canada had previously imposed sanctions on Iran in implementing United Nations Security Council (“UNSC”) resolutions on Iran. After the adoption of the Joint Comprehensive Plan of Action (“JCPOA”) and UNSC resolution 2231, however, Canada amended its previous enactments and harmonized them in accordance with JCPOA, and therefore, all nuclear-related Canadian sanctions against […]

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Statement Relating to the Joint Comprehensive Plan of Action “Implementation Day” of January 16, 2016

Treasury department of the United States, after confirmation of the Secretary Kerry concerning the verification of the International Atomic Energy Agency (“IAEA”) of the measures carried out by Iran in accordance to JCPOA, declared all US secondary sanctions against Iran were lifted as defined in JCPOA. Consequently, Treasury department, and specifically Office of the Foreign […]

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Termination of EU Sanctions on Iran

Pursuant to adoption of JCPOA, the EU published a detailed “Information Note on EU Sanctions to Be Lifted under the Joint Comprehensive Plan of Action” confirming JCPOA and its structure. In this information note, the sanctions to be lifted on the “implementation day” are defined in detail. Furthermore, EU published regulation 2015/1861, regulation 2015/1862 and […]

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