What is a target cost contract? A target cost contract is a type of cost reimbursable contract under which the contractor is reimbursed costs incurred in carrying out the works to the extent recoverable under the particular contract, usually together with an agreed fee, subject to an agreed target cost. The target cost is the cost to the contractor of completing the project, comprising: • the base cost of the physical works (based on the sum of prices in a bill of quantities, schedule of rates or an activity schedule), the cost of temporary works, sub-contractor costs and preliminary costs • overheads and profit • a contingency for contractor’s risks under the contract At the stages specified in the particular contract—which may include interim payments and/or final payment—the parties will apply a mechanism/formula to calculate whether savings were made and the project delivered for less than the target cost, or whether costs overran and the cost of delivering the project was more than the target cost. The contractor will then either share the savings

This Practice Note considers the legal principles that apply in relation to statements made by the parties during recruitment or when an employment contract, executive service agreement or other contractual arrangement is being negotiated, eg regarding qualifications on a curriculum vitae (CV). It examines the meaning and effect of a representation, including fraudulent misrepresentation, negligent misrepresentation and innocent misrepresentation. It also considers warranties, conditions, and innominate terms or intermediate terms. It looks at the distinction between representations and terms particularly with regard to remedies including damages and rescission. Finally, it considers negligent misstatement. Representations Before an employment relationship starts, there are generally discussions between the parties about the nature of the job and the employer's business and the employee's skills and experience. If, as part of these discussions, a party makes a statement of fact to the other party which they rely on in deciding whether to enter into the contract, that is a representation. A representation requires: • a statement of fact or law (or, in appropriate circumstances, of opinion or intention)

An analysis of the issues raised in this question will largely turn on the construction of the word ‘subcontract’ and whether, in any given circumstance, the procuring by a party of additional external resources falls within that definition. We have undertaken a limited case search but have been unable to find any authority in which this point was considered. However, the below information may be useful. Meaning of ‘subcontract’ It will first of all be necessary to establish on the facts and in the context of the clause which prohibits it, whether a subcontract has been created. Subcontracting is the delegation by one party of some or all of its obligations under a contract between it and a customer to a third party (the subcontractor) for performance by the subcontractor. Contractual liability for performance of the obligations remains

The question here is whether the failure to hand over the key to the rear access fire door is a breach of a contractual term to give vacant possession on completion of an assignment of a lease of business premises when the other keys to the premises are handed over. The fact that the situation has arisen on the assignment of a lease rather than on the sale of a freehold property makes no difference to the answer to this Q&A which would be the same in either case. Vacant possession means free from any occupation by the vendor or a third party and free from any claim to a right to possession

You may wish to consider separately: • the implied term • the fairness of a dismissal which prejudices Permanent Health Insurance (PHI) rights, under the statutory law on unfair dismissal Where an employee's entitlement to benefit under the employer's PHI scheme is dependent upon the continuance of the employment relationship, it has been held (by the High Court) that a term should be implied into the contract of employment to the effect that the employer will not terminate the contract

The price the employer agrees, pursuant to the contract'>building contract, to pay for the carrying out and completion of the works by the contractor.

The privity of contract rule means that only the parties to a contract can acquire rights under it or have obligations imposed upon them under it, even if the contract was created to give that party a benefit.

A worker who is engaged by an employer under a contract for services.

The Competition and Markets Authority (CMA) has launched a consultation on draft revised guidance on unfair contract terms provisions in Part 2 of the Consumer Rights Act 2015. The updated guidance, which will replace the current CMA37 guidance once finalised, aims to simplify compliance for businesses and reflect developments including the CMA's direct consumer enforcement powers under the Digital Markets, Competition and Consumer Act 2024. The CMA notes that the underlying law on unfair contract terms remains unchanged since 2015, with businesses' obligations unaltered. The consultation includes draft revised guidance spanning 126 pages and a 14-page technical note, seeking views on how the CMA has simplified, streamlined and improved the guidance's presentation. The consultation closes at 11:59pm on 19 March 2026.

The general rule regarding the passing of title is that property passes when so intended (or when the materials are fixed to the structure) and it therefore seems, in this instance, to be a question of interpreting several clauses in DBSub/C 2016 to determine when title passes in respect of Listed Items. Clause 4.9 (Gross Valuation) of DBSub/C 2016 provides for the inclusion of the value of Listed Items in the Gross Valuation for an interim payment. This is subject to conditions set out in clause 4.11 (Listed Items) being satisfied. The conditions in clause 4.11 include the

Security of tenure under Part II of the Landlord and Tenant Act 1954 (LTA 1954) applies to most business tenancies, unless they are ‘contracted out’ of the protections. LTA 1954, s 38A provides that the landlord and the tenant may agree to exclude security of tenure. For an agreement to be effective, the parties must follow the contracting out procedure set out in LTA 1954, s 38A(3) and Regulatory Reform (Business Tenancies) (England & Wales) Order 2003 (RRO 2003), SI 2003/3096, Sch 2. Contracting out is achieved by: • the landlord serving a warning notice on the tenant which advises the tenant that they are giving up their statutory right to security of tenure and compensation and recommends that the tenant obtains professional advice before giving up these rights • the tenant signing a simple declaration or (depending on the timescales involved—see

For information on the issues that arise when post-termination restrictions are being introduced after employment has begun, see Practice Note: Incorporation of post-termination restrictions, in particular the section entitled: Introducing post-termination restrictions during employment. Particular issues arise where the employer is seeking to introduce new post-termination