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A letter of comfort, sometimes called a "letter of intent", is a communication from a party to a contract to the other party that indicates an initial willingness to enter into a contractual obligation absent the elements of a legally enforceable contract. The objective is to create a morally binding but not legally binding assurance.
A parent company guarantee (PCG) is a guarantee by a parent company of a contractor’s performance under its contract with its client, where the contractor is a subsidiary of the parent company. [1] It is mandatory for all the companies to mention about the guarantees granted as a note in their accounts because it is a risk for the company.
A delivery order (abbreviated D/O [1]) is a document from a consignee, or an owner or his agent of freight carrier which orders the release of the transportation of cargo to another party. [2]
A set of heads of agreement, heads of terms, or letter of intent is a non-binding document outlining the main issues relevant to a tentative sale, partnership, or other agreement. [ 1 ] A heads of agreement document will only be enforceable when it is adopted into a parent contract and is subsequently agreed upon, unless otherwise stated.
Standby letter of credit (SBLC): Operates like a commercial letter of credit, except that typically it is retained as a standby instead of being the intended payment mechanism. In other words, this is an LC which is intended to provide a source of payment in the event of non-performance of contract.
A Utah man who was pulled over for a traffic stop is now facing murder charges, after the body of his former girlfriend was found in the back seat of his car.
Since the pandemic, a lot of companies have made a shift to remote work. Many employees have found that working from home offers a lot of benefits, including saving on transportation costs.
Former President Jimmy Carter’s official state funeral will be held Jan. 9, a day that has been declared a national day of mourning by President Joe Biden.. On Monday, Biden ordered federal ...
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