By a contract of commercial agency the agent shall assume the obligation to take permanent care that third persons enter into contracts with his principal, and to mediate in that respect between them and the principal, as well as to enter into contracts, after obtaining authorisation, with third persons on behalf and for the account…
A license agreement is governed by the provisions of Articles 686 to 711 of the Law of Contract and Torts. By a licensing agreement a licensor shall assume the obligation to assign to a licensee, entirely or partially, the right of use (franchise) of an invention, technical know-how and experience, trade-mark, sample or model, while…
Mortgage Law governs the mortgage, for the purpose of securing and collection of claims. A mortgage is a lien right on real estate, which empowers the creditor, in the event of the debtor’s failure to pay a matured debt, to request the collection of claim secured by the mortgage from the value of the real…
According to provisions of the Companies Act a contract on control and management shall be concluded in the case of forming an contractual group of companies. A contractual group of companies consists of a controlling company and one or more controlled companies that have entered into a contract on control and management. A contract on…
According to the provisions of the Labour Law an employment relation shall be terminated: after the expiry of the period it was concluded for when an employee reaches the age of 65 and a minimum of 15 social insurance years, unless otherwise agreed between the employer and the employee by an agreement between the employee…
Factoring shall be a financial service of buying and selling of existing non matured or future short-term monetary receivable, that arose from a contract of sale of goods or provision of services at home and abroad. Participants in factoring shall be: The assignor, who sells to the factor its receivable against the debtor that arose…
