Thailand related terms (legal and practical).
The official statement by a licensed financial institution in Thailand (Thai bank) to report the remittance and exchange of foreign currencies into Thai baht under reporting requirements of the Bank of Thailand. Source: samuiforsale
Term in contract law, refraining from doing something that one has a legal right to do, giving of further time for repayment of an obligation or agreement (not to enforce a claim at its due date).
Standard legal language (French) referring to an extraordinary event or circumstance beyond control of parties. The risks beyond the reasonable control of a party such as war and natural disasters (act of god) that could not be evaded through the exercise of due care and which is not a product or result of the negligence or malfeasance. In the Thailand Civil and Commercial Code it is described as 'any event the happening or pernicious result of which could not be prevented even though a person against whom it happened or threatened to happen were to take such appropriate care as might be expected from him in his situation and in such condition' (section 8).
Foreign nationals and foreign companies are restricted or prohibited from operating businesses in Thailand primarily in the Foreign Business act, for certain categories foreigners/ foreign companies may be granted a foreign business licence or may be granted an exemption based on a treaty or specific act (like the Investment Promotion Act).
A foundation in Thailand is a juristic entity registered under the provivions of the civil and commercial code. A nonprofit charitable organization that will donate funds to public charity, religious, art, scientific, education or other purpose for the public benefit and not for sharing profits (section 110 civil and commercial code).