Under the Late Payment of Commercial Debt (Interests) Act 1988 (LPCD(I)A 1998) contracting parties are free to agree their own terms for a remedy to late payment, known as ‘contractual interest’, in place of the statutory interest provided in LPCD(I)A 1998 provided the contractual interest is a ‘substantial remedy’. The Grand Committee on the Bill for LPCD(I)A 1998 in the House of Lords, the Minister said as follows: ‘Clause 8 provides that variations of the right to interest are valid only if the right, as varied, or the overall remedy for late payment is substantial.’ (Hansard (House of Lords Debate) , 28 January 1998, CWH11). An express interest clause is only effective if it provides a substantial remedy for late payment. It can be said that if there is a valid clause to address the interest

The courts have jurisdiction to make orders for the sale of property in a number of situations including pursuant to its powers under section 14 of the Trusts of Land and Appointment of Trustees Act 1996 and/or enforcement proceedings. The procedural power to make an order for sale is contained in CPR 40.16. At CPR PD 40D, para 2, a summary of the directions the court may make are set out. See Practice Note: Trusts of Land and Appointment of Trustees Act 1996. The directions may include who has conduct of the sale and the manner of sale. It should be noted that if any beneficiary or trustee of the property wishes to be able to bid

This phrase is routinely added to heads of terms so as to indicate that the parties do not intend that the heads of terms be legally binding.

An investment in which an investor benefits from the difference in price between two different assets without actually holding them directly, eg the sponsor's share price and the whole equity index. Sometimes relevant when exploring the use of contingent assets.

It is assumed that this query relates to the calculation of a statutory redundancy payment. For information on the employee’s right to pay during the notice period, see the section of Practice Note: Statutory minimum notice entitled Statutory minimum notice—Employee entitlement to pay during statutory notice period. Calculating a statutory redundancy payment Under section 162 of the Employment Rights Act 1996 (ERA 1996), a statutory redundancy payment is calculated by: • determining the employee's number of complete years of continuous employment ending with the 'relevant date', and • allowing the appropriate number of weeks for each year • multiplying that total number of allowed weeks by the current figure for a week's pay, calculated in the usual way, subject to the statutory cap, which is £571 per week

This Practice Note sets out the key features of the Infrastructure Conditions of Contract (ICC) Measurement Version 2011. The ICC were formerly known as the ICE (Institution of Civil Engineers) Conditions of Contract. They were first published in 1945 by the ICE and revised in seven editions between then and 1999. In August 2011, the ICE withdrew from the ICE Conditions and they were rebranded as the ICC, and published by the Association for Consultancy and Engineering and the Civil Engineering Contractors Association (who had also published the ICE’s conditions). The ICC contracts are principally intended for use with civil engineering works such as tunnelling, dredging and harbour works, road and bridge building and airport runways. There are a number of different contracts published as part of the ICC suite: • ICC Design and Construct Version (2018)—see Practice Note: ICC Design and Construct Version 2018 • ICC Target Cost Version (2018)—see Practice Note: ICC Target Cost Version 2018 • ICC With Quantities Version (2014)—see Practice Note: ICC With Quantities Version 2014 • ICC Measurement Version (2011/2014)* • ICC

The National Energy System Operator (NESO) has announced a proposed modification to the Connection and Use of System Code (CUSC), to introduce a temporary process allowing users to delay contracted electricity transmission connection dates ahead of the first CMP434 gated application window. NESO states that the modification is intended to improve alignment between contractual positions and deliverable project timelines, reduce the need for multiple post-Gate 2 variations, support more efficient network planning and lower the risk of projects rejecting Gate 2 offers because of outdated liabilities. The proposal is being progressed as an urgent modification, with implementation proposed for 10 business days after an authority decision and a final decision requested by 31 July 2026.

What does the term 'attorney-in-fact' mean? We are not aware of a specific definition in English law of 'attorney-in-fact'. It appears that this term is more commonly used in the United States, to refer to an agent authorised to act under a power of attorney. It may be that the jurisdiction to which a particular agreement is specified to be subject has specific legislation or case law which provides rules for the correct appointment of an attorney-in-fact, and it would be necessary to check what those rules state in terms of: • the formalities for the correct execution of the document dealing with the appointment and • the remit of that appointment In a UK context, our research does reveal examples of the term being used to refer to a party nominated to perform certain acts on behalf of another. An example of

This Practice Note provides a summary of the law relating to the carriage of goods by rail as provided for in the Uniform Rules Concerning the Contract of International Carriage of goods by Rail (CIM). It explains the scope of application of CIM, the contract of carriage under CIM, how liability is apportioned under CIM, time bars and jurisdiction. See: Uniform rules concerning the contract for international carriage of goods by rail (CIM): Encyclopaedia of Forms and Precedents [43]. International carriage by rail is governed by CIM (the Rules). The Rules are enacted under the auspices of the Convention concerning International Carriage by Rail (COTIF), which is given the force of law in the UK by the Railways (Convention on International Carriage by Rail) Regulations 2005, SI 2005/2092. Scope of application Under Article 1, the Rules apply: • to carriage for reward (and not gratuitous carriage) • to every contract for the carriage

Calderbank offers Calderbank offers are widely used by defendants in litigation. While the significance of a Calderbank offer is assessed under CPR 44.1, no formalities are set out in the CPR which need to be adhered to when drafting such an order, unlike a Part 36 offer of settlement. Calderbank offers are, essentially, a creation of contract law. Where an offer is silent as to the terms of payment it is, therefore, necessary to consider contract law. For further guidance, see Practice Note: Settling disputes—settlement offers (Calderbank, WPSAC and Part 36). Settlement and settling disputes In order for an agreement to be contractually binding: • it is essential that the acceptance is communicated to the offeror

Construction analysis: The Technology and Construction Court (TCC) refused to an enforce an adjudicator’s decision, made in favour of a contractor against an assignee of the employer. The court found that the adjudicator lacked jurisdiction, because a dispute between the contractor and assignee could not be a dispute ‘under’ the construction contract. Further, the assignee was not liable for the employer’s obligations under the construction contract.

[Insert date] Dear [insert name of employee], I have received your letter dated [insert date of employee's letter of appeal] in which you have appealed against the decision, confirmed to you in writing on [insert date], to terminate your existing contract of employment with [enter