The necessity of submitting of declaration letter or demand letter under Iranian law Under Iranian law, a demand letter or declaration letter is a written statement prepared in accordance with the declaration letter. In Iran, it is explicitly referred to in Article 156 of the Iranian Civil Procedure Code (the “ICPC”) as one of the…
Starting a Shipping Agency in Iran: Law and Market Starting a shipping agency in Iran has been facilitated due to the newly issued ordinance which regulates the licensing process and legalities concerning the agency duties and responsibilities. International Shipping Market and Iran Gates to Maritime Freight Tracking As one of the eminent petroleum exporters…
Ship Registration under Iranian Maritime Law – Iran as a Flag State Ship Registration process in Iran is a smooth and straightforward one. Iranian Maritime Law offers a standard and flexible procedure to ships seeking to raise Iranian flag. Business Opportunities in the Shipping and Maritime Industry in Iran If you want to start…
How to Conclude an Investment agreement with the Iranian Government ? Concluding an investment agreement with the Iranian government means a foreign investor has chosen a certain project from a proposed investment list of a governmental organ, usually a ministry or a provincial branch of a ministry, and then negotiated the terms and finally signed…
Criminal Offense of Dishonored Bank Cheque in Iran Criminal offense of dishonored bank Cheque in Iran represents common category of bad Cheque, hot Cheque, and bouncing Cheque. You are probably familiar with these terms as they refer to a Cheque that could not be cleared due to insufficient funds in the drawer bank account or…
A Practical Overview of Bank Cheque Rules and Procedures in Iranian Law In this article, we give you a practical overview of bank Cheque rules and procedures in Iranian law. Recently, it has been a series of legal changes to make the process more secure. The new law introduced a new system for registering, identifying,…
Letter of Credit in Iranian Financial Law Letter of Credit in Iranian financial law is more about processes and procedures rather than specific rules. These processes are by no means different from the international common framework. As you know, a letter of credit is a negotiable instrument, also called documentary credit. This payment tool is…
Issuance of Bank Guarantees in Iran for Commercial Purposes Issuance of bank guarantees in Iran for commercial purposes is one of the most popular topics, especially in the context of exportation and importation facilities. In this article we are bound to show well-known sorts of bank guarantees in Iran and the process through which one…
The Enforcement of Foreign Verdicts and Documents in Iran The enforcement of foreign verdicts and documents in Iran are permitted under certain condition by Iranian courts. According to a legal principle in Iran, a lawsuit, in terms of the jurisdiction of the courts, will be subject to the laws of the locale in which it…
Sixteen criteria for opening a bank account for foreigners in Iran With the recent enactment of the Money and Credit Council (MCC), sixteen conditions were ratified by the council members for opening a deposit Rial bank account for non-resident foreign real persons, non-resident foreign legal persons, and foreign real persons residing in Iran. The…