Keystone Law

This Practice Note examines the 2013 editions of the IChemE Yellow Book (4th Edition) and Brown Book (3rd Edition) forms of sub-contract which are intended to be used with the IChemE main contracts (Red, Green and Burgundy Books) for process plants. The Practice Note also looks at the key features of these two sub-contracts which cover (in the Brown Book) civil engineering works and (in the Yellow Book) sub-contract plant provided by a subcontractor.

This Practice Note looks at the IChemE target cost form of contract, known as the Burgundy Book and examines its key provisions.

This Practice Note provides an overview of the IChemE Model Form of Conditions of Contract for Process Plants Suitable for Lump Sum Contracts (the ‘Red Book’), 5th edition 2013. It examines how the Red Book works and its key provisions.

This Practice Note looks at the IChemE cost reimbursable form of contract, known as the Green Book, and examines how the contract works and its key provisions.

This Practice Note, written in partnership with Patrick Elliot at Cubism Law, considers the requirements of the General Data Protection Regulation (GDPR) and looks at the practical considerations for insolvency professionals, and in particular for office-holders taking insolvency appointments where they have to control or process data. It considers what they need to look out for and what measures they can put in place to avoid the risk of penalties for non compliance with the new regulation.

This Practice Note provides guidance on retail issuance and distribution of structured products and covers: (1) what retail structured products are, (2) what a retail client is, (3) what a structured product is, (4) who buys and sells structured products, (5) why investors buy retail structured products, (6) why firms sell retail structured products, (7) the risks of buying a retail structured product, (8) the risks of selling a retail structured product, (9) why there is a regulatory focus on the issuance and distribution of retail structured products, (10) the requirements and restrictions for the distribution of structured products to retail investors, (11) financial promotions and regulated activities, (12) suitability and appropriateness requirements, (13) MiFID II product governance and investor protection requirements, (14) prohibition of title transfer arrangements, (15) compliance with the PRIIPS Regulation, (16) compliance with the ProspectusRegulation, (17) compliance with listing and disclosure and transparency rules, (18) application of the Consumer Rights Act 2015, (19) how to document the distribution of retail structured products, (20) what product providers can do to ensure that their products do not end up in the hands of and protect themselves from risks associated with sales to, unsophisticated retail investors and (21) the future for retail structured products

This is a precedent parent company guarantee (PCG) which can be used in the context of a construction project where a contractor requires security from its employer. This PCG gives the contractor comfort that it will be paid what is due and payable to it in accordance with the building contract by the employer’s parent company in the event that the employer fails to pay.

This Precedent agreement is a parent company guarantee (PCG) intended to be provided as security in the context of a construction project. This guarantee is drafted from a contractor-friendly perspective. The guarantee is drafted as a secondary obligation with a 'no greater liability' provision. The employer will need to claim against the contractor before pursuing the guarantor. The guarantee expires on practical completion and is not assignable.

This Precedent agreement is a parent company guarantee (PCG) intended to be provided by the contractor as security in the context of a construction project. This guarantee is drafted from an employer-friendly perspective. The agreement provides that the guarantor guarantees as a primary obligation and indemnifies the employer. It provides for payment on written demand and contains the usual savings provisions. The agreement is co-extensive with the obligations of the contractor under the building contract and is also capable of being assigned without restriction.