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About Ireland - Banking & Financial Services

The uncertain economic climate has led to unprecedented challenges in the banking and financial services sectors. It is more difficult than ever to get your deals done. Lexis+ Ireland - Banking & Financial Services gives you time-saving precedents, practical guidance and expert commentary to help you stay up to date.
We provide guidance on investment, funds, debt markets, insurance, derivatives, and virtual assets, along with Central Bank regulation, investigations, and news on ISDA and LMA documents.

Lending & credit support

Practice notes and precedents covering the creation and enforcement of bilateral facility agreements, security over different types of assets and guarantees in finance transactions.

Regulation of financial institutions in Ireland

Guidance on the authorisation and supervision of Irish financial institutions and the regulation of a wide range of areas include anti money laundering, fintech, payment services and e-money, credit, insurance and crowdfunding.

Key developments and horizon scanning

Transactional lawyers need to stay on top of market changes. We track developments of key industry bodies such as the LMA and ISDA as well as hot topics to help keep you updated.

International guidance

Q&A guides provide jurisdiction specific information and overviews on financial services litigation, securities litigation and fintech.

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Associated legal terms

Accord and satisfaction

Accord and satisfaction describes the process by which parties resolve an existing contractual or other civil dispute by agreeing a new obligation (the accord) and then performing it (the satisfaction), thereby discharging the original claim. In practice, it commonly arises in debt claims, settlement of damages, and commercial disputes where a lesser sum or different performance is accepted in full and final settlement.

In England and Wales, Scotland, Northern Ireland and Ireland, it is a common law concept developed through case law rather than detailed legislation, and is closely linked to the doctrines of contract formation, consideration (or, in Scotland, cause/consent), and waiver.

Key features are: (i) a genuine dispute or uncertainty as to liability or amount; (ii) a clear agreement that the new performance will settle the existing claim; and (iii) actual performance of that new obligation. Until satisfaction occurs, the original claim is not fully extinguished.

Accord and satisfaction is frequently considered alongside part‑payment of debt, settlement agreements, releases, and compromise of litigation, and is relevant to drafting “full and final settlement” clauses and assessing whether a creditor can pursue any balance after accepting alternative performance.

Action of specific implement

An action which requires the court to grant an order requiring a party to perform a specific act. In Scotland, there is no distinction between equitable and legal remedies as there is in England and Wales.

REFIT programme

The Regulatory Fitness and Performance (REFIT) programme is part of the European Commission’s better regulation agenda. As part of the REFIT programme, the European Commission regularly reviews EU legislation to identify excessive regulatory burdens, overlaps, gaps, inconsistencies and/or obsolete measures which may have appeared over time. The programme ensures that EU legislation is ‘fit for purpose’ and aims to make EU legislation simpler, more targeted and easier to comply with, especially for SMEs, which are particularly affected by burdens and complexity of the rules. For more information about the REFIT programme, see the European Commission website.
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