Foreign official institutions(redirected from Foreign Official Institution)
Foreign official institutions
Central governments of foreign countries, including all departments and agencies of national governments; central banks, exchange authorities, and all fiscal agents of foreign national governments that undertake activities similar to those of a treasury, central bank, or stabilization fund; diplomatic and consular establishments of foreign national governments; and any international or regional organization, including subordinate and affiliate agencies, created by treaty or convention between sovereign states.
Foreign Official Institutions
The national government of another state, including all its departments, regulatory authorities, and diplomatic and consular missions. Knowledge of foreign official institutions is important to international businesses because they set their laws of commerce independently from the local government, and the laws may be quite different from each other.