A Letter of Indemnification (LOI) is a legal agreement that makes one or both parties to a contract safe for some third party in the event of tort or breach by the contracting parties.
In other words, the party or parties are indemnified against possible losses of any third party, such as an insurance company.
LOIs are used in all types of business transactions, from global trade and commerce to borrowing and lending.
The 2,000 investor limit or rule is a key threshold for private businesses that are unwilling to disclose financial information for public consumption.
The 500 shareholder threshold was a rule set by the SEC that required companies to publicly disclose financial statements and other information if they reached 500 or more individual shareholders.
The Basel Accords are part of a series of three international banking regulatory meetings that established capital requirements and risk measurements for global banks.
Basel III is an international regulatory agreement that introduced a series of reforms aimed at improving regulation, supervision and risk management in the banking sector.
Black money includes all funds earned as a result of illegal activities, as well as other legitimate income that is not taken into account for tax purposes.