A charter is one of a company’s two foundational documents, along with its memorandum of association, which creates the company as a legal entity. Understanding the corporate charter may be helpful for founders, investors, and legal advisors because it represents a picture of the framework and purpose of the corporation as well as its management. A legal charter could be defined as a document issued to a company by the state or government agency as a license to engage in busi

STR Meaning and Definition A Suspicious Transaction Report (STR) is an official document that obligated financial institutions submit to the relevant government agencies in cases of suspected illegal activity. These reports are a special monitoring mechanism for any financial sector activity that is outside the norm or shows signs of being illegal. What does STR stand for? The main purpose of suspicious transaction reporting is to prevent financial crime. It is a special tool

What is a Closed Corporation (CC)? What is a closed corporation? A Closed Corporation (CC) means a small private company owned by a few people. To define closed corporation, it is a business where ownership and control stay within a close group, such as family or friends. The meaning of a closed corporation is that its shares are not sold on the public market, only privately. The owners usually manage the company themselves and make decisions together. It offers legal protect

Corporate Spin-Off Explained Spinoff definition in business In business, a spinoff definition means creating a new company by separating a part of assets, a division, or a business line from the parent corporation. This is done to increase operational efficiency and focus on key objectives. When a business forms an independent structure, it gets its own management, financial statements, and strategic priorities. Thus, the separated division can adapt more quickly to market ch

Understanding Nostro Accounts and Vostro Accounts In the current globalized economic system, there are innumerable financial exchanges made on a daily basis among people, companies and institutions that are located in various corners of the world. The fact that money today travels across borders with a lot of ease is due to decades of development of international banking systems. In order to understand how these cross-border transfers became the smooth aspect of modern financ