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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.
1. Citation, commencement and extent 2. Interpretation 3. A relevant transfer. this takes on the Spijkers language of whether an entity retains its identity, r.3(1)(a); the definition of economic entity as an 'organised grouping of resources' comes from Suzen too, r.3(2).
S.No PSU Inc. Ministry Headquarters Sector Group Ratna status; 1 Agriculture Insurance Company of India: 2002 Ministry of Finance: New Delhi: Services Insurance Services
The Directive stipulates that any employee's contract of employment will be transferred automatically on the same terms as before in the event of a transfer of the undertaking. This means that if an employer changes control of the business, the new employer cannot reduce the employees' terms and conditions, unless the Directive's exception ...
Letters of credit are also sometimes used as part of fraudulent investment schemes. [31] In the international banking system, a letter of undertaking (LOU) is a provisional bank guarantee, under which a bank allows its customer to raise money from another bank's foreign branch in the form of short-term credit.
Businesses undertaking electrical work are certified by NICEIC to become Approved Contractors and/or Domestic Installers, meeting the NICEIC's scheme requirements for competence and the like kind. If work undertaken by the certified business is not up-to-standard, the NICEIC will correct it if necessary.
From Wikipedia, the free encyclopedia. Redirect page. Redirect to: Letter of credit
Undertaking may refer to: Task (project management), in general; The services provided by an undertaker, mortician, or a funeral director; Company, in business, in particular in European Union law, the term is used interchangeably, i.e. a business entity; Undertaking (driving), overtaking another vehicle using a lane nearer the curb-side