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Showing 1-6 of 6 results
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Insurance laws changing with the times
Business, Tilleke & Gibbins International Ltd, Published on 01/05/2015
» To promote and develop Thailand's growing insurance industry and prepare for greater market activity under the Asean Economic Community, the government recently amended the laws governing the country's life and non-life insurance industries for the third time. Formally known as the Life Insurance Act No.3 of 2015 and the Non-Life Insurance Act No.3 of 2015, the amendments took effect on March 6, seven years after the previous amendments were made. The changes can be divided into three main parts as follows:
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Thailand's new debt collection law provides a measure of protection
Business, Tilleke & Gibbins International Ltd, Published on 21/08/2015
» Debt collection has long been associated with deceptive and unscrupulous practices. In Thailand, it is not uncommon to hear stories of collectors tricking debtors into paying by giving false information or even resorting to abusive language, violence and blackmail.
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Enforcement of loan guarantees to change under new laws
Business, Tilleke & Gibbins International Ltd, Published on 09/01/2015
» New amendments to the Civil and Commercial Code will change the way loan guarantees are enforced in Thailand. Under the changes, which are due to take effect on Feb 11, guarantors will benefit from increased protection, as contracts imposing joint liability between a debtor and a guarantor will be void.
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Microinsurance needs a push to reach potential in Thailand
Business, Tilleke & Gibbins International Ltd, Published on 11/07/2014
» In order to expand the availability of life and non-life insurance policies to those who are unable to afford standard premiums, the Office of the Insurance Commission (OIC) has been promoting microinsurance in Thailand.
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Expanding the potential for secured transactions
Business, Tilleke & Gibbins International Ltd, Published on 14/06/2013
» Secured transactions refer to transactions secured by collateral, which guarantees the fulfilment of an obligation to repay loans. Currently, Thailand recognises only a limited class of security that can be put up as collateral, effectively limiting the potential for greater credit availability in the economy. This article examines the types of security available under other jurisdictions as well as registration and common enforcement mechanisms with an eye towards potential use in Thailand.
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Critical considerations for foreign investors doing business in Thailand
Business, Tilleke & Gibbins International Ltd, Published on 06/04/2012
» Increasingly investors are expanding their businesses to developing countries with a view to reducing costs and selling products in new markets. Thailand is among the most attractive destinations for them.
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