As a US based company operating worldwide, TerraShops must comply with all economic sanctions and trade restrictions, including those implemented by the Office of Foreign Assets Control (“OFAC”) of the US Department of the Treasury. The implication of this is that TerraShops or anyone making use of our Service is not permitted to legally be involved in transactions that involve designated people, or countries, or products that originate from those places, as determined by agencies like OFAC.
For instance, these restrictions prohibit transactions involving but are not limited to:
- Specific geographic areas, such as Iran, Crimea, Cuba, North Korea, and Syria, or any person or business carrying out activities or based in those mentioned areas;
- Persons, corporations or businesses placed on sanctions lists such as OFAC’s Specially
Designated Nationals (“SDN”) List https://www.treasury.gov/resource-center/sanctions/SDN- List/Pages/default.aspx or Foreign Sanctions Evaders (“FSE”) List https://www.treasury.gov/resource-center/sanctions/SDN-List/Pages/fse_list.aspx .
- Citizens of Cuba, regardless of their location, unless they have established citizenship or permanent residency outside Cuba; and
- Products originating from countries or regions including Cuba, North Korea, Iran, or Crimea. (informational materials such as publications, films, posters, phonograph records, photographs, tapes, compact disks, and specific artworks are excluded from this list)
To ensure that our platform and community are protected, we take practical steps to ensure that our members comply with sanctions programs.
For instance, we prohibit TerraShops sellers and members from using their accounts while in specific geographic locations. We may suspend or terminate your access to our platform and services if we have compelling reasons to believe that you are operating your account from a sanctioned location, such as any of the places listed above, or if we discover that you are in violation of any economic sanction or trade restriction.
Similarly, we do not permit sellers and members to list, buy, or sell products that originate from any sanctioned areas – this list includes items that pre-date sanctions because we cannot verify when such items were shipped from the restricted area.
We reserve the right to request sellers and members to provide additional information including disclosing a products country of origin in a listing, or to take further steps to ensure compliance with obligations. If we discover any transaction or listing that violates this policy, we may disable listings or cancel any transactions.
Note that in addition to OFAC and other applicable laws compliance, TerraShops sellers should bear in mind that other countries or regions may have their own trade restrictions. We urge you to consult the laws of the applicable jurisdictions when a transaction involves international parties.
Finally, third-party payment processors, such as PayPal, may on their own, monitor transactions to ensure sanctions compliance. In some instances, they may block transactions. We have no authority or control over the independent decisions of these providers.
These economic sanctions and trade restrictions that apply to your use of the TerraShops Services are subject to change, so sellers and members are advised to check sanctions resources regularly. If you need legal advice, kindly consult a qualified professional.
- US Department of the Treasury: https://www.treasury.gov/resource- center/sanctions/Pages/default.aspx
- Bureau of Industry and Security at the US Department of Commerce: https://www.bis.doc.gov/
- European Commission: https://ec.europa.eu/fpi/home_en