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Penalty Fees in Lithuania

Penalty Fees in Lithuania

Penalty Fees as a Form of Civil Liability and a Means of Securing the Performance of Obligations Penalty fees are a monetary amount established by law, contract, or court decision…

Distribution in Lithuania

Distribution in Lithuania

The essence of a distribution agreement and the parties’ obligations Under a distribution agreement, one party – the distributor – undertakes, for a fixed term or indefinitely, in its own…

Employment Contract in Lithuania

Employment Contract in Lithuania

Key Provisions of the Employment Contract An employment contract is an agreement between an employee and an employer under which the employee undertakes to perform work corresponding to a certain…

A Gift Agreement in Lithuania

A Gift Agreement in Lithuania

Gift Agreement: Content, Conditions, and Limits of Validity A gift agreement is a contract under which one party (the donor) transfers property or a property right (claim) to another party…

Insurance Contract in Lithuania

Insurance Contract in Lithuania

Insurance Under an insurance contract, one party (the insurer) undertakes, in return for an insurance premium specified in the contract, to pay the other party (the policyholder) or a third…

Factoring in Lithuania

Factoring in Lithuania

Assignment of Monetary Claims Factoring is a financial transaction in which one party (the factor) transfers or undertakes to transfer money to another party (the client) in exchange for the…