Sanction Tracker – Russia
As part of our compliance and international trade practice, we strongly encourage all of our clients and other interested parties to take appropriate measures to determine if they are directly or indirectly doing business with any party subject to the sanctions that have been imposed against Russia. You can view Correctiv’s sanction tracker here.
We do not maintain this check list. It is...
Thailand’s New Credit Term Regulation
By Douglas Mancill and Nat Uawithya
The Policy Rationale Behind Thailand’s Credit Regulation
Negotiated terms between commercial parties of equal bargaining power are generally considered better than dictated terms. But regulatory authorities don’t always agree.
Last year Thailand’s Trade Competition Commission (“TCC”) promulgated a credit terms regulation (the “Regulation”) intended to...
Predications for Thailand – 2022
Random thoughts and musings about what we can expect in 2022. Not scientific in any sense of the word; entirely tongue-in-cheek.
1.Thailand’s Economic Growth: 3.3%
Not terribly robust, but not as bad as it could be. Siam Commercial Bank’s research house recently downgraded its economic forecast for Thailand’s economic growth from 3.4% to 3.2% because of the omicron variant’s global spread.
But...
Franchising Law in Thailand
When someone mentions franchises, fast food burger joints are probably the first thing that comes to mind. But franchising can and is used for many other businesses.
Franchising relationships include fitness clubs, food delivery services, cleaning services, property management services, financial and bookkeeping services, private schools, assisted living facilities, management consulting...
Cross Examination in International Arbitration – Thailand
Conducting a cross examination in an international arbitration proceeding is like conducting a cross examination in a domestic arbitration or trial, but there are some differences. International arbitrations, by definition, involve witnesses, arbitrators, and parties from different countries. Adopting a more civil and polite tone is almost always the best approach when you are representing a...
Real Estate Scams in Paradise
Years ago I saw an English language posting on Linked-In advertising the “sale” of land on Koh Chang (a Thai island) through the use of three consecutive 30 year “registered” leases for a total of 90 years. The advertisement went so far as to highlight the land’s location in a national park. When I posted a question – a simple question rather than a claim – asking how land in a...
Toyota Reports “Possible” Corrupt Activity in Thailand
Multiple media resources are reporting that Toyota “alerted the U.S. Department of Justice and the Securities and Exchange Commission to possible antibribery violations involving a subsidiary in Thailand”. Those media sources include, among others, the Wall Street Journal (the quoted language is from the Wall Street Journal), Nikki Asia, Bloomberg, and Bangkok’s English newspaper, the Bangkok...
New Service Added: Work Permits and Visas
Through new additions, Analytics will now offer work permit and visa services to existing clients and parties that retain the firm for corporate formation work. Because the fees for these services will be heavily discounted (e.g., fees for work permits could be as low as several hundred dollars), these services will only be provided to parties that already engage or will engage the firm for...
Thailand Falls Another Three Places on Transparency International’s Corruption Index
Thailand ranked 104th among 180 countries surveyed, down from 101st a year earlier, with an overall score of 36 out of 100. The higher the ranking the greater the perception of corruption, and the lower the score, the higher the perception of corruption. Although there have been minor changes, Thailand’s ratings on Transparency International’s Corruptions Perceptions Index...
Airbus Corruption Probe Likely to Continue
Although the Trump administration unexpectedly imposed record fines under the Foreign Corrupt Practices Act (“FCPA”), it also initiated “fewer and fewer new FCPA investigations”. The National Law Review reports that it expects the incoming Biden administration to “continue the trend of increasing FCPA enforcement settlement values, while also increasing the pace of initiating new...