Glossary of Legal Terms

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Official written document intended for repeated use, its provisions being of general character, establishing, amending or annulling legal regulations that have been accepted by the authorised state body is considered normative-legal act of the Azerbaijan Republic (hereinafter — normative-legal act). Normative-legal acts of the Azerbaijan Republic are the following: Constitution of the Azerbaijan Republic; Laws of the Azerbaijan Republic; decrees of the Supreme Council of the Azerbaijan Republic, decrees of the President of the Azerbaijan Republic, decrees of the Cabinet of Ministers of the Azerbaijan Republic, acts of ministries, state committees and other central bodies of executive power of the Azerbaijan Republic.
Tender announced through mass media in the Azerbaijan Republic and internationally, thus providing participation of most potential bidders
a) operations connected with transfer of proprietary right and other rights onto currency values including use of foreign currency and payment documents in foreign currency as a payment means; b) bringing in and transfer to the Azerbaijan Republic and also taking out and transfer from the Azerbaijan Republic of currency values; c) international money transfers.
a) direct investments, i.e. investment contributions into the partnership capital of the enterprise with the objective of obtaining profits and right of participation in management; b) purchase of securities; c) transfers covering payments for proprietary rights on buildings, structures and other property which according to legislation of the country of its location is considered as real estate including land and its entrails and other rights on real estate; d) giving and obtaining deferments in payments for export-import operations, works and services for a term exceeding 180 days; e) placement of currency resources on deposits of authorised banks for a term over 180 days; f) all other operations with currency besides current operations.
The document confirming the right of person to purchase (sell) securities, goods or monetary means in future at specified time and indicated terms at the price fixed at the time of making such option or the time of such purchase by the agreement of parties
Shareholder, partner or other participant in an enterprise’s profit
Extension of the term of validity of the decision taken by the custom authority as regards pass of goods according to chosen customs regime
Sum paid by legal entity to tender’ organiser for provision of the status of tenderer
Any physical or legal person, permanent representation, branch or other section of non-resident
Persons (entities) being the owners of commodities, their buyers, proprietors, or those authorised to carry out operations with commodities envisaged by this Code, on their own behalf and otherwise, in accordance with legislation of the Azerbaijan Republic