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The general direction of the Tanzimat reforms was
Existing Risk
Refers to the current risks involved in a situation or transaction, especially those that have already been identified or assessed.
Valid Contract
A legally binding agreement that meets all required elements, including offer, acceptance, consideration, and mutual consent.
Losses
The negative financial impact resulting from the difference between costs and revenues, often attributed to business operations, investments, or unforeseen events.
Submission
The act of presenting a document, proposal, or application for consideration or judgment.
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