The following Property practice note provides comprehensive and up to date legal information covering:
The Standard Conditions of Sale (SCS), currently in their 5th edition (2018 revision), are a set of standard conditions which are commonly incorporated into contracts for the sale of residential property. The Standard Commercial Property Conditions (Third Edition—2018 Revision) (SCPC) are used for commercial property.
See Precedent: SCS—Standard Conditions of Sale Agreement (conditions and agreement).
The SCS (5th edition) were originally published on 1 April 2011 in conjunction with the launch of The Law Society’s Conveyancing Protocol (the Protocol). Where the Protocol is adopted in relation to a particular conveyancing transaction, the parties must use the most current edition of the SCS (and step 24 of the Protocol states that special conditions should not be included unless '… they are necessary to accord with current law, or specific and informed instructions have been given by the seller that inclusion of such clauses is necessary and they are required for the purposes of the particular transaction'). Use of the Protocol is mandatory for practitioners who are accredited under the Conveyancing Quality Scheme. For further commentary on the Protocol, see Practice Note: The Law Society’s Conveyancing Protocol.
The 2018 revision of the SCS (5th edition) was introduced in March 2018.
The definition of clearing bank’ in Condition 1.1.1(b) was amended in March 2018 to reflect the transfer of responsibility for CHAPS (Clearing House Automated Payment System) to the
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