Stay up to date with legal developments in Thailand.
A new guideline on the use of "fair" credit terms between business operators and small and medium enterprises (SMEs) will take effect on 16 December 2021. For trading, manufacturing and services businesses, the credit terms must not exceed 45 days unless a shorter term has already been agreed. For trading, manufacturing and services businesses only related to agricultural products or processed agricultural products using a non-complicated manufacturing process, the credit terms must not exceed 30 days unless a shorter term has already been agreed.
The guidelines also provide some room to fix credit terms different from the abovementioned terms if there is a reasonable basis on which to do so for business, marketing or economic reasons. In this Update, we explain the rationale behind the issuance of these guidelines and their intended scope.
The nature of fraud and asset tracing has becoming increasingly complex in light of globalisation and the almost seamless interconnectivity of the world's financial systems. The proceeds of fraud can now be dissipated in an instant across various jurisdictions, potentially frustrating any attempts at recovery whether via civil proceedings or by relying on the relevant government enforcement agencies. To increase the chances of recovery, it is important that fraudster(s) are quickly identified, with steps taken to trace any stolen assets in order to ascertain their location, after which the relevant applications should be filed to have them frozen to prevent further dissipation.
This publication serves as a guide to highlight:
(a) the similarities and differences in general framework between ASEAN jurisdictions in respect of fraud and asset tracing litigation;
(b) the options available to a fraud victim to identify the fraudster(s) and/or trace stolen assets;
(c) upon identification of the fraudster(s) and/or ascertaining the location of stolen assets, the mechanisms available to freeze such assets to prevent further dissipation; and
(d) the considerations to be taken into account when deciding on the appropriate jurisdiction to pursue recovery of any stolen assets, and the various courses of action that may be taken against the fraudster(s).
A keen understanding of the nature of real estate and the legal and regulatory issues related to this asset class is critical to working out the basic features of any real estate deal. The Rajah & Tann Asia’s “Guide to the Real Estate Industry in Asia” gives you a brief overview of certain key insights to the real estate industry in the ten jurisdictions across Rajah & Tann Asia’s geographical footprint, namely, Cambodia, China, Indonesia, Lao PDR, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam. Topics covered in the Guide include the legal framework, types of real estate, ownership and tenure, taxes as well as important issues that an investor of real estate in the region should take note of.
In its second edition, we hope that this Guide will be a useful aid to investors who are navigating or looking to navigate this part of the world for their real estate investments.
A key pillar of our strength is our Rajah & Tann Asia network with offices in these ten jurisdictions, as well as dedicated desks focusing on Japan and South Asia. With the most extensive legal network in Asia, our lawyers have a tight grasp of the local culture, business practices, and language not just within their own home countries, but in the other markets in which they frequently conduct cross-border deals as well. Our depth of transactional and regulatory experience allows us to advise clients strategically and creatively, from structuring to eventual execution and implementation of the transaction.
This gives us an unparalleled edge over our competitors in presenting and pursuing solutions that are both practical and cost-effective. It provides our clients with the "home advantage" in any corporate real estate matters.