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The ITF Seafarers' Trust was established by the ITF Executive Board in 1981 as a body with charitable status under UK law. [1] The Trust financially supports organisations that directly provide welfare services to seafarers, acting as a lobbyist for change in the maritime community, and support long-term programmes that improve maritime workers’ health and welfare. [2]
Side letters may also be used in relation to private fund contracts, for example a particular investor may wish to vary the terms of a limited partnership agreement with respect to that particular investor. An investor might be seeking more favourable terms under the contract or might need the side letter to enter the venture under terms to ...
Thus, a trustee can be exonerated from the "self-dealing" rules on property in situations where: (1) the transaction was authorized by the terms of the trust; (2) the transaction was approved by the court;(3) the beneficiary did not commence a judicial proceeding within the time allowed under statutes of limitation; (4) the beneficiary somehow ...
The trustees are not legally bound to follow a letter of wishes, but it is guidance that they must take into account and in practice it is usually followed. [1] It is mainly used because it is easy to change, unlike amending a will or trust deed, and will remain private among the trustees.
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A Letter of Understanding (LOU) is a formal text that sums up the terms of an undertakings of a contract which may have been negotiated up to this point only in spoken form or otherwise informally. It reviews the terms of an agreement for a service , a project or a deal and is often written as a step before a more detailed contract is issued.
A proof of delivery (POD) is a document that substantiates that goods have been delivered to their intended recipient. [1] For example, a POD can establish that carrier has satisfied its terms of a contract of carriage for cargo by confirmation of delivery to the recipient or consignee .
In 2004, mining entrepreneur Ian Telfer created Silver Wheaton which aimed to apply volumetric production payment transactions to the mining sector. [4] The business model came to be known as metal streaming and structures VPP transactions in such a way that an upfront payment is exchanged for a percentage of metal production, with a fixed payment being made for each ounce of metal delivered.