The following Practice Compliance practice note provides comprehensive and up to date legal information covering:
There are many ways that risk of modern slavery can manifest in supply chains. In order to assess the level of risk of slavery in your supply chains, you must first understand the features of your business that may be particularly vulnerable to slavery and human trafficking occurring. These are most likely to include using third-party suppliers and recruitment. There may be other factors depending on your operations. This Practice Note contains guidance on conducting risk assessments of the risk of your organisation, or any of your supply chain, being involved in modern slavery. It covers supplier risk in particular—see Precedent: Modern slavery—risk assessment. See also Precedent: Anti-slavery policy for suggested procedures for managing recruitment risk.
A risk assessment is a fundamental aspect of both detecting and preventing modern slavery in supply chains. It's a two-stage process:
step 1—initial high-level assessment of the entire supply chain, to divide suppliers into low, medium and high-risk categories (you may wish to use our Precedent: Modern slavery and human trafficking supplier risk assessment)
step 2—more in-depth examination of the potential for modern slavery in the medium and high-risk categories
Your risk assessment process begins with working out who your suppliers are.
A supplier is any individual or company which provides goods or services to you. This includes less direct aspects of supply which might include, eg
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On 29 August 2015, the Prudential Regulation Authority (PRA) published the PRA Rulebook (Rulebook). The transition from the Handbook to the Rulebook was intended to benefit PRA-authorised firms, to access clearer and more concise rules. Alongside the Rulebook, supervisory statements and statements
There are two kinds of burden:•the legal burden, and•the evidential burdenThe legal burdenA party has the legal (sometimes called ‘the persuasive’) burden where the onus is on that party to prove a fact or issue in a case to the required standard of proof.The legal burden is generally on the
This Practice Note discusses the common law doctrine of privity of contract; the equitable and statutory exceptions to it; how the doctrine affects enforcing a contract against a third party and what happens when, notwithstanding the lack of privity, a contract has an indirect effect on a third
Disposal and devolutionThe equity of redemption arises as soon as the mortgage is made. It is an interest in the land which the mortgagor can:•transfer, lease or mortgage inter vivos, or•by will (it passes on intestacy)No cloggingIt is a fundamental principle of a mortgage that there must be no clog
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