The Difference Between a Memorandum of Understanding One question frequently encountered, depending on the nature of their activities, concerns the distinction among a memorandum of understanding, an agreement, and a contract. Before addressing their differences, it should be noted that the decisive factor in distinguishing legal documents is not their title, but rather the text...Read More

Insurance in Sports Insurance is a contract under which one party undertakes, in return for receiving a payment from the other party, to compensate for losses incurred or to pay a specified sum upon the occurrence of an accident or insured event. The party assuming the obligation is referred to as the insurer, the counterparty...Read More

Tax Regulations Taxation constitutes one of the principal sources of government revenue used to finance public expenditures and general state expenses. Taxes are levied on individuals’ assets or income, as well as on the value added of goods and services supplied within society. In essence, the payment of taxes reflects the level of public participation...Read More

Registration of a Foreign Company Representative Office in Iran The registration of representative offices of foreign companies in Iran is subject to specific procedures and regulations. Familiarity with these rules is essential for all natural and legal persons who intend to register a representative office of a foreign company in Iran. In such cases, part...Read More

Types of Ships A ship refers to any seagoing and navigable vessel that operates under its own propulsion system and is used for the transportation of goods, passengers, or both in international trade.Read More

Commission Agency under the Commercial Code As can be understood from the meaning of the term, commission refers to a right or fee received in return for performing a task. Commission is also commonly referred to as a service fee or remuneration and, in commercial practice, represents the amount received from the owner of goods...Read More

Seizure of Assets of the Judgment Debtor Among matters concerning property and assets, individuals are frequently confronted with issues arising from non-payment of debts or from damages. In practice, a person may be entitled to receive a sum of money that should have been paid to them and, as a result, may initiate legal proceedings...Read More

Review of the Fiscal Year in a Holding Company The calculation of the fiscal year for companies governed by the Commercial Code is conducted as follows: A fiscal year refers to a twelve-month business period. For natural persons, the fiscal year must correspond to the Iranian solar calendar year. For legal entities, the fiscal year...Read More

Types of Bonds Today, many individuals are unable to afford essential assets such as vehicles or real estate and therefore require loans. Likewise, businesses need financing to expand their operations or generate profits. The amount of financing required by businesses is often beyond the lending capacity of banks. In such circumstances, companies rely on alternative...Read More

Ship Collision In maritime law, ship collision is generally defined as the impact of two vessels with one another, the impact of one vessel with the appurtenances of another vessel, or a severe impact of a vessel with quay walls, piers, columns, or bridges. In a broader sense, collision refers to any form of impact...Read More