Ireland-Finance and Financial Services analysis: This article was written by Paul Fahy, partner and head of tax and Cian Ryan, associate, of A&L Goodbody LLP.

This Practice Note sets out the key UK interest rates most relevant to Private Client practitioners. It includes the current rate and the date from which it applies. Additionally, links to historic rates, relevant government websites, legislation and Lexis+® UK content are included. This Practice Note is intended as a quick reference guide and not a comprehensive resource. As these rates of interest change from time-to-time with market rates, this Practice Note will be updated accordingly but relevant links are included to confirm the current rate that is applicable. The collection page for the rates of different taxes, excise duties, interest rates, exchange rates, allowances and levies published by HMRC can be accessed here. For detail on the tax rates for private clients, see Practice Note: Key UK tax rates, thresholds and allowances for Private Client. Rate category Effective from Current rate Statutory reference Useful links: Bank of England (BoE) base rate The rate set by the BoE’s Monetary Policy Committee determining the interest rate it pays to commercial banks holding money with the BoE. 18 December

What are the key issues property lawyers should consider in real estate finance transactions when acting for a funder? It is essential to understand the nature and purpose of the transaction and most importantly whether the transaction is an investment facility or a development facility—this will dictate the key issues for consideration. See further Practice Notes: Introduction to real estate finance—the lending structure, Real estate finance—development facilities—key features and Real estate finance—investment facilities—key features. Due diligence and investigating title Occasionally a funder may require its lawyer to undertake first hand due diligence in which event, see Practice Notes: Property due diligence in corporate transactions, Reporting to a lender in an investment real estate finance transaction and Real estate in corporate transactions—overview. More commonly the funder will rely on a London Law Society (CLLS) certificate of title (Certificate) produced by the borrower's solicitor and reviewed by their own solicitor. See Practice Note: Guide to drafting or reviewing a certificate of title. Adverse effect on value When undertaking due diligence (whether

This Practice Note considers the key issues which can arise when dealing with a local authority in England in a commercial finance transaction. It covers the types of acts a local authority may perform in a typical commercial finance transaction and considers the capacity and authority of local authorities when carrying out these acts. It also looks at typical representations and warranties from local authorities and other key issues to consider which are particular to dealing with a local authority in a commercial finance transaction, such as their power to invest and Wednesbury unreasonableness. Note that this Practice Note covers commercial finance provided to local authorities. It does not cover other funding sources such as grants available to local authorities, which are beyond the scope of this Practice Note. It also does not cover local authorities in Wales. The key questions that arise when dealing with a local authority in the context of a commercial finance transaction are in relation to the capacity of a

Commercial lending transactions often involve the provision of finance to large corporate entities. However, in some cases, commercial lending transactions will also involve dealings with an individual. For example, an individual might be providing a guarantee and/or security for a business loan. This Practice Note considers the key issues which can arise when dealing with individuals in the context of a commercial finance transaction. It looks at the types of actions an individual may perform in a commercial finance transaction and considers the capacity and authority of individuals when carrying out these acts. It also looks at other key issues to consider which are particular to dealing with an individual in a commercial finance transaction, such as the typical representations and warranties to be given by the individual in the finance documents, undue influence and executing ‘legal’ assignments by powers of attorney. Note that this Practice Note does not cover the situation where the individual involved in the transaction is the borrower. For information

This Practice Note considers key issues in IT disputes (ie legal disputes which have an IT element), focusing particularly on issues that commonly arise in relation to IT contracts and arrangements such as software licensing, outsourcing and systems integration. It looks at the ways that disputes can arise, sets out practical steps for analysing a potential claim and considers appropriate remedies, alternative dispute resolution (ADR) and settlement. The type of legal issue in an IT dispute varies, with some disputes focusing on IP infringement or negligence, for example. However, the vast majority of IT disputes will have contractual issues at their heart—and this is the focus of this Practice Note. For guidance on other areas which may be relevant to IT disputes, see: • Contractual breach damages and remedies—overview • Tort and negligence claims—overview • General IP disputes—overview • Data protection regime—overview Why do disputes arise? IT disputes often arise in the context of a customer who seeks an IT solution for its business and contracts with a supplier to provide that solution. This might

IT outsourcing is the transfer of information technology processes or services by a customer to a third party supplier, instead of the customer performing the IT functions itself. The term encompasses a wide range of specific types of transaction, each with their own distinct set of challenges and issues. The contracting for each type of IT outsourcing must be carefully considered by customers, suppliers and their respective advisers in order to reach a good deal for all, both at the commencement of the transaction and as the technology matures and evolves over the transaction’s term. IT outsourcing, when done correctly, can assist organisations to reduce the investment of financial and human resources spent on IT operations and infrastructure, and allow these resources to be allocated to strategic business initiatives elsewhere. Customers may want a variety of IT services to be completely performed by a supplier, may wish to engage multiple suppliers to handle a complex piece of the customer’s business, or may be retaining some services in-house and be outsourcing

Overview This Practice Note covers some of the key issues arising in software as a service (SaaS) and hardware/software maintenance service level agreements (SLAs). It focuses on availability (uptime) and break/fix fault resolution service levels and includes a discussion on the following areas: (i) scoping and setting the service levels; (ii) absolute v endeavours obligations; (iii) customer obligations; (iv) exclusions; (v) service credits; and (vi) termination rights. It also sets out common drafting and negotiation points, depending on the scope of the service (eg whether it is supplier-hosted SaaS or a system located ‘on-premise’ with the customer). It can be read alongside the following Precedents: • Service Level Agreement (Availability (uptime) service level for SaaS) • Service Level Agreement (hardware/software fault resolution support services) Where an SLA is required for other types of service levels, many of the principles will remain the same (especially on absolute v endeavours obligations, service credits and termination rights). The more general Precedent: Service level agreement provides a suitable starting point there. Scoping and setting the

Overview Operation and maintenance (O&M) of renewable energy projects is a critical component of an effective and successful project. Although capital expenditure typically makes up the bulk of the costs, the O&M still contributes significantly to the calculation for the levelised cost of electricity, which is key to the underlying project economics. Having an effective O&M strategy can enhance the competitiveness and make the investment case for renewable energy projects. The nature of O&M services varies between renewable energy technologies; eg photovoltaic (PV) solar requires a very different scope of services and risks to consider compared to offshore wind, and has different practical challenges to overcome. The key terms will also vary between jurisdictions, and the depth of the market for the provision of such services. As operational renewable projects increase in scale and number, so the O&M industry increases in scale and sophistication. This Practice Note considers some of the key issues in O&M contracts in renewable energy for both the O&M contractor and the project company owning

Software can be broadly defined as a computer program comprising a series of instructions which, in combination with the underlying hardware and inputs from an end user, allow or cause a computer to perform a specific operation. There are various categories of software based on the operation it causes the computer to perform. For example, operating systems such as Microsoft Windows or Apple’s macOS control and manage a computer’s basic functions. A computer’s operating system is what recognises input from devices like the keyboard and mouse, sends output to the monitor and manages the sharing of memory between programs. At the other end of the scale are applications which sit on top of the computer’s operating system and provide a particular, visible function to the end user of the machine. Examples of applications range from word processors to media players to games. A software licence is a binding agreement that grants a customer the right to use a defined piece of software subject to certain

This Practice Note sets out the need for, and issues to consider in relation to, contracts for the support and maintenance of on-premise software. For detailed analysis see drafting notes to Precedents: Software support agreement—pro-customer and Software support agreement—pro-supplier. Considerations for maintenance and support contracts It is generally accepted that on-premise software will not always be, or remain, error free, hence the need for maintenance. The agreement should clearly set out: • what is included within the services being offered • for what period • during which hours • at what price Key issues to consider are: • services: It is sometimes appropriate to distinguish between, and to charge separately for: ◦ maintenance services to fix bugs and errors in the software ◦ support services to provide technical assistance in using the software and training Often the two are combined. Whichever approach is adopted, the agreement should detail the scope of the services to be provided • updates and upgrades: Updates, upgrades, enhanced versions or new releases of the

A guarantee is a form of quasi-security (see Practice Note: Guarantees). Guarantees are a common form of credit support in commercial financing transactions. For example, in transactions involving a corporate borrower, the lender might request guarantees from the directors of the borrower. Less commonly and at the smaller end of the commercial financing market, the lender might request a guarantee from a family member related to a director of the borrower, such as a spouse, civil partner or parent of the director of the borrower. When taking a guarantee from an individual there are a range of issues to be considered in addition to those which arise generally in the context of the law of guarantees. This Practice Note explains the key issues to consider when taking a guarantee from an individual in a commercial financing context, in particular: • the capacity of individuals to grant guarantees • undue influence • voidable transactions • moratoriums under the debt respite scheme, and • the potential applicability