Glossary of Legal Terms

Advertising agency Professional organisation which is legal entity, provides complex services connected with making and distribution of advertisements

Advertising carrier Any means that is directly used for presentation of advertisement to the customer, irrespective of the form of property (mass media means, cinema, audio, video, printed products, fixed, mobile and other technical devices and equipment)

Agreement, or agreement concerning power resources Written agreement concluded between the parties and regulating the terms of activities in the sphere of power resources

Aimed hydrometeorology works Observations, research and data developed on hydrometeorology and environmental pollution, implemented on the basis of orders from legal entities or natural persons

Allocated subsoil area Boundaries of depths of the earth allocated to legal entities and physical persons for production of mineral resources and also construction of underground facilities not connected with them

Amicable settlement Agreement between the debtor and creditor about postponement of payment of payments to creditor, partial payment, assignment of some part of debt, reorganisation of the enterprise-debtor

Amicable settlemеnt An agreement (settlement) between the debtor and the creditor about postponement of payment to the creditor, payment in part (instalment payment) or concession of not redeemed part of debt

Applicant Person who applied to the law court with petition in his bankruptcy

Approved budget provisions A maximum level of expenditure estimates of state budget, the budget of the Nakhchivan Autonomous Republic and local budgets

Arbitration Any arbitration whether or not it is conducted by the permanent arbitration office