The Proposed Iran Claims Act of the United States

Extract

On September 14, 1982, the Department of State submitted proposed legislation (S. 2967) to Congress that would authorize the Foreign Claims Settlement Commission to adjudicate “small” claims of U.S. nationals against Iran, i.e., those for less than $250,000, in the event of an agreement between the United States and Iran for an en bloc settlement to cover such claims. The Commission’s adjudications would be made in accordance with the provisions and procedures of the International Claims Settlement Act of 1949, as amended, subject to the provisions of the relevant claims settlement agreements (the Claims Settlement Agreement of the Algiers Accords and any lump sum settlement agreement negotiated with Iran).