Secured Payment Act of 1993

Summary

Secured Payment Act of 1993 - Amends the International Emergency Economic Powers Act to prohibit the President from regulating or prohibiting, in the exercise of emergency economic powers, payments under irrevocable letters of credit issued by a U.S. or foreign bank of amounts owed to or for the benefit of a U.S. national that is the beneficiary of such a letter of credit and that performed its obligations under an underlying contract before the declaration of a national emergency. Makes such prohibition inapplicable to U.S. nationals found to have violated the Export Administration Act of 1979 or the Arms Export Control Act.

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Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 16 June 1993

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 16 June 1993

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• Introduced in Senate

  summary · EN · 16 June 1993

  Open at official source

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