Refine By
Clear all filter
About 7137 results for "contract"
NEWS
This week's edition of Arbitration weekly highlights includes: coverage of arbitration-related decisions from England and Wales, including successful appeals under section 69 of the Arbitration Act 1996, as well as decisions from Singapore, France, Hong Kong and the US. We also cover further updates from DIS, the ICC, SVAMC, the PCA and WIPO. All this, and more, in our weekly highlights.
PRACTICE NOTES
This Practice Note introduces the requirements of the United Kingdom General Data Protection Regulation, Assimilated Regulation (EU) 2016/679 (UK GDPR) where a processor will process personal data on behalf of a controller in a commercial context. This Practice Note assumes a degree of familiarity with key data protection concepts and terms and the role of key regulators. For a general introduction to data protection law, see the tab on ‘key principles and concepts’ in the UK Data Protection toolkit, which is a recommended starting point for data protection research. For a higher-level introduction to this specific topic and related issues, see: Data sharing and transactions—overview. This Practice Note forms part of the Data protection negotiation guide—controller: processor—collection, which those drafting or negotiating data protection provisions between a controller and processor may also find useful. In brief Data protection laws in the UK seek to ensure information about living individuals (within the definition of ‘personal data’) is used fairly and responsibly. To help ensure that, the UK GDPR imposes a large
GLOSSARY
This envisages a team of participants coming together to deliver a project jointly, sharing risks and rewards on a ‘no claim, no blame’ basis. See, for example, the NEC4 Alliance Contract (News Analysis: NEC4 Alliance Contract—multiple parties, shared risks and shared incentives).
GLOSSARY
A battle of the forms occurs when two organisations are negotiating the terms of an agreement and each party wishes to contract on its own terms of business.
GLOSSARY
The parole evidence rule is a rule of contractual construction which means that extrinsic evidence cannot be used to vary the provisions of a written agreement. It effectively means that the written contract contains the whole agreement between the parties to it. It can be rebutted, and does not apply when a party is seeking rectification of a contract.
GLOSSARY
When a future is purchased, a deposit ('the initial margin') is paid to the future exchange. This normally represents a few percent of the value of the contract and helps in protecting the exchange against defaults. As the value of the contract changes additional payments may be requested ('the variation margin').
GLOSSARY
Legal obligations that arise from private wrongs or breaches of contract which are not acts that are prevented under legislation (criminal acts or public wrongs).
GLOSSARY
Work carried out by the contractor which does not meet the standard required by the building contract, including any implied terms in relation to quality.
GLOSSARY
A contract between a parent company and a beneficiary, by which the parent guarantees its subsidiary's performance under a separate contract between the subsidiary and the beneficiary (eg a building contract). In the event of the subsidiary failing to perform its obligations under its contract with the beneficiary, the parent company may be required to perform its obligations in its place or reimburse the beneficiary for losses suffered as a result of the subsidiary’s failure to perform. See subtopic: Parent company guarantees in construction projects.
PRACTICE NOTES
This Practice Note provides an overview of the questions which need to be asked when planning a new share-based incentive arrangement. The outcome of these discussions will guide the type of plan(s) ultimately adopted and the terms of the plan(s). The main questions are: • why do we need an incentive plan? • what is the most appropriate type of plan? • what are the terms of the plan going to be? • what are the legal, regulatory, tax and financial requirements that could impact on the plan? • how is the plan going to be communicated and operated? For further details on the implementation process, see Practice Note: Share plan implementation process. For a questionnaire which helps the company elicit the most suitable share scheme for its objectives and needs, see Precedent: Questionnaire to select the right share option scheme. See also Practice Note: Selecting the right share scheme. Note: This Practice Note is a high level introduction to some of the issues to consider when implementing a share plan. For each point,
PRACTICE NOTES
This Practice Note looks at legal and practical issues that arise on the winding up of a personal pension scheme by its provider, scheme administrator and any trustee. What does it mean? It is important to differentiate the winding up of a personal pension scheme from an employer's decision to withdraw from participation in the scheme which, in the context of the relevant employee relationships, may be presented as the winding up or termination of the employer's group personal pension plan. Any pension scheme that is not an occupational pension scheme is a personal pension scheme and must generally be established by a person who has permission under the Financial Services and Markets Act 2000 (FSMA) to establish a personal pension scheme or stakeholder pension scheme in the UK. Unlike the situation with an occupational pension scheme, there is no need for a personal pension scheme to be established under irrevocable trusts. The term personal pension scheme is defined in the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001,
PRACTICE NOTES
What is the Pensions Advice Allowance? Following a period of consultation in 2016/17, the government introduced, with effect from 6 April 2017, a Pensions Advice Allowance which allows certain pension scheme members to access a set amount of money from their pension pot tax-free to pay for holistic retirement advice. At the member’s request, a pension scheme can thus reduce the value of the member’s pension pot by the amount of the advice fee and transfer the funds directly to the member’s adviser. This was recommended by the Financial Advice Market Review, which had identified an advice gap for those who need retirement planning advice but do not have the means to pay for it from their net-of-tax income or savings. The Pensions Advice Allowance is available in addition to a number of other existing advice allowances and methods of payment for advice. This includes adviser charging, which does not allow money from pensions to be used to fund holistic retirement advice. For further information, see Other types of pensions advice measures below. The government aims to