A security collateralised by a pool of specified cashflow generating assets.

A financier offering ABL facilities.

This Practice Note gives a brief overview of the typical financing structures adopted by UK asset-based lenders and a summary of the key English law legal issues that arise when financing receivables (commonly known as book debts) specifically in the asset-based lending market together with one or more of the following: • inventory (also referred to as stock) • plant and machinery (also referred to as equipment) • real estate, and/or • cashflow loan This Practice Note provides a brief overview of typical asset-based lending structures and key issues for consideration in relation to asset-based financing. Key features of asset-based lending Asset-based lending (ABL) is senior secured lending with the principal purpose of funding the working capital of a trading business. Funds are advanced by the lender based on the realisable value of certain classes of a borrower's assets (known as its 'borrowing base'). ABL is often event-driven, providing a borrower with flexible access to cash during a period of change such as an acquisition or a restructuring.

In response to the commencement of the Global Irregular Migration and Trafficking in Persons Sanctions Regulations 2025, SI 2025/902, OFSI has published a list of designated persons under this new sanctions regime. OFSI has also updated two existing General Licences—INT/2025/5632740 and INT/2022/1679676—to incorporate the latest designations. These licences allow designated individuals to receive payments for basic necessities such as food and housing, under clearly defined conditions and reporting obligations, helping prevent unintended humanitarian consequences. General Licence INT/2025/5632740, issued in January 2025, and INT/2022/1679676, issued in April 2022, both remain active and now reflect the expanded sanctions list. They apply across multiple regimes, including those concerning irregular migration, anti-corruption, and Russia-related measures.

A technique which projects possible future states of a fund’s assets and liabilities under a range of investment policies in order to assess the investments’ suitability in relation to the liabilities of the pension fund.

Charities, Community Interest Companies and Community Benefit Societies must retain their capital assets for use in accordance with their objects and must not distribute them. Their capital assets are 'asset-locked'.

Local community groups can nominate buildings/land for listing as ACVs. When ACVs come up for sale or change ownership, a moratorium on the sale of up to six months can be invoked, giving local groups an opportunity to bid to buy the asset on the open market.

Assignment. In Scotland, an assignation must be ‘intimated’, so an assignment of a debt is not valid unless ‘intimated’ to the debtor. Confidential invoice discounting in Scotland relies on trust arrangements, since the debtor is not notified (or intimated) of an assignment

This Practice Note examines the distinction between assignation and subletting of commercial leases in Scotland, landlord's consent, and the respective remedies open to a landlord and tenant in the event that the other party breaches its obligations under the lease with regards to assignation or subletting. It exclusively relates to commercial leases in Scotland and does not address residential or social housing tenancy arrangements. Assignation and subletting Assignation and subletting are two options which a tenant may use to introduce a new tenant into the lease arrangement. The tenant may choose to exercise these options because it no longer needs to occupy the premises (or a part thereof) but it is not entitled under the lease terms to terminate. This Practice Note covers the contentious issues which can arise when a tenant seeks approval from its landlord for an assignation or sublease. The primary distinction between assignation and sublease is the degree to which the tenant's responsibilities under the lease are transferred:

This Checklist sets out the issues that should be considered by a tenant (assignor) of a commercial lease in Scotland. It sets out when landlord consent to assignation is required, whether the landlord is obliged to act reasonably in granting such consent, the form of the consent and assignation and issues that both parties and the assignee should consider in relation to the landlord letter of consent to assignation and the assignation itself. Assignation transfers to the assignee the tenant's (assignor’s) interest in the lease from an agreed date until the termination of the lease. It entitles the assignee to possess the premises on the same terms as the assignor, see: Nature of assignation: Stair's Laws of Scotland (Stair Memorial Encyclopaedia) [290]. A style letter of consent to assignation and a style assignation can be found at the Property Standardisation Group (PSG): PSG Leases—Management Documentation. Must the assignation be in writing? From 1 August 1995, a written document subscribed to by the assignor is required for assignation of a lease with a duration

The transfer of the interest of a tenant under a lease to a new tenant and/or the document by which such a transfer is effected. Landlord's consent is normally required. Assignation is completed only by intimation

The entity to which an asset is assigned.