Type of security, a promise by a bank to provide payment to the creditor from the debtor’s account under certain circumstances, e.g. in case of debtor’s default.

Collegial body responsible for serving the shareholders’ interests and securing their rights between the general shareholder meetings; it is an optional body in LLCs and JSCs with less than 50 shareholders.

Form of solitary subdivision of a legal entity (Head office), which is not a separate legal entity (i.e. is considered part of the Head Office’s legal entity), can perform all of the Head Office’s functions in the area of responsibility, generally treated as a permanent establishment from the tax viewpoint.

Reorganisation procedure whereby a legal entity’s assets are demerged, and two new companies are created based on them. The former legal entity is terminated.