Refine By
Clear all filter
About 7135 results for "contract"
PRACTICE NOTES
Produced in association with 4 Pump Court. This Practice Note looks at the types of evidence that may be used in an adjudication, including supporting documents, evidence from witnesses of fact and expert evidence. It also considers how evidence should be presented in adjudication, whether documents may be kept confidential, how disclosure requests might be permitted, and the ability to rely upon evidence or documents from previous adjudications. There are generally no strict rules as to the format or type of evidence which must be provided in an adjudication. The guidance below on the use of evidence is of general application unless contradicted by something in a particular contract or set of adjudication rules. The aim of both parties should be to present their case to the adjudicator as clearly and intelligibly as possible. Too much material can obscure the real issues. However, if too little material is provided with the Referral Notice or Response (or any other submissions), the result can be an unsatisfactory drip-feed of further information which disrupts the adjudication process. Documents It is
PRACTICE NOTES
This Practice Note considers the concepts of confidentiality and without prejudice protection in the context of a mediation. The confidential nature of mediation is an important aspect of the process and prevents the parties from sharing information connected with the mediation outside the mediation process without the consent of the parties. Most mediation agreements will include a clause dealing with confidentiality. For further information, see: Confidentiality of the mediation process. Communications that take place as part of a mediation will also usually be protected by the ‘without prejudice’ rule which provides that communications relating to genuine settlement negotiations cannot be referred to or relied on in subsequent court proceedings, subject to certain exceptions. As stated in Pentagon Food Group v B Cadman, ‘the contractual and formal context of mediation means that it is a particularly clear…example of ‘without prejudice privilege’, which can be ‘enhanced by the parties' mediation contract and conduct by the imposition of superadded duties of confidentiality’. However, the existence of a confidentiality clause will not prevent the court
PRACTICE NOTES
ARCHIVED: This Practice Note has been archived and is not maintained. The implementation period put in place to enable the UK to transition away from the EU’s laws and institutions ended at 11 pm (GMT) on 31 December 2020. At this point in time (referred to in this Practice Note as ‘IP completion day’) there was an immediate and significant change in the UK’s legal regime. This Practice Note explains the implications of this change in relation to agency. How does Brexit impact agency? Agency law Agency law in the UK is based on common law and this is largely unaffected by IP completion day, see Practice Notes: Nature and types of agency and What does IP completion day mean for contract clauses? [Archived] Commercial agency arrangements in the UK are subject to the Commercial Agents (Council Directive) Regulations 1993, SI 1993/3053 (Commercial Agents Regulations) which form part of the body of retained EU legislation under European Union (Withdrawal) Act 2018 (EU(W)A 2018) effective from 11 pm (UK time) on 31 December 2020. From
PRACTICE NOTES
Murabaha is one of the most popular Islamic finance techniques used across the world. Murabaha (often referred to as ‘cost plus profit financing’) involves a minimum of three contract parties. It lends itself readily in real estate finance, trade finance and consumer finance transactions to fund the acquisition of assets. But, Murabaha may also be (and often is) used to meet corporate working capital needs, serve as the basis for a deposit product and be used as a means to generate cash flows. Typically, a customer (the Customer) asks a finance provider (usually an Islamic financial institution (IFI) such as a bank or fund engaged in Islamic finance activities) to obtain specified goods from a third-party vendor (the Seller). The IFI purchases the identified goods from the Seller and sells those goods to the Customer. The purchase price paid by the Customer to the IFI is equal to the original purchase price paid by the IFI to the Seller, plus a pre-agreed markup. This is why
Q&As
What is a retention of title clause? At its simplest, a retention of title clause allows the seller to retain title to goods which it has delivered to a buyer until the buyer has paid for them in full or, where permitted to do so, sold them on to a third party. Under the Sale of Goods Act 1979 (SGA 1979), property in specific or ascertained goods passes to the buyer when the contracting parties intend it to pass (SGA 1979, s 17). A retention of title clause in the contract is evidence that the parties did not intend property in the goods to pass to the buyer prior to full payment, even though the goods have been delivered to the buyer or to a carrier or custodian for the buyer. For detailed information on retention of title clauses, see Practice Note: Retention of title. What is the effect of a retention of title clause? A valid retention of title clause gives a seller priority over secured and unsecured creditors of the buyer if the buyer
PRACTICE NOTES
Introduction A production sharing contract (PSC) is a contractual relationship between a host government and a private sector participant (‘investor’) whereby the government contracts with the investor to carry out oil and gas exploration and production activities (E&P activities) in a defined area for a defined period of time. A PSC is distinguished from the other types of upstream petroleum agreement by the fact that the host government always remains the owner of the oil and gas resources in the ground, although title to a share of the produced oil and gas is transferred to the investor at a contractually agreed 'delivery point' to compensate the investor for the E&P activities it has undertaken. For more information on the different types of upstream petroleum agreements, see Practice Note: Understanding upstream petroleum agreements—concessions, production sharing contracts and service contracts. The key provisions in a PSC Each jurisdiction that adopts a PSC as the basis for its upstream petroleum agreement will design its PSC in its own particular way. Common provisions include: • purpose and scope • responsibilities and grant of
PRACTICE NOTES
ARCHIVED: This Practice Note has been archived and is no longer maintained. It covers jurisdiction issues that can arise in IP cases in the UK, with a particular focus on the jurisdiction regime in the EU, and the interpretation of Regulation (EC) 44/2001 (Brussels I) and Regulation (EU) 1215/2012 (Brussels I (recast)). It also covers court jurisdiction in the UK. It sets out the position in relation to patents, trade marks, copyright and design rights, with links to more specialist notes in those areas of IP where appropriate. This Practice Note introduces concepts relating to jurisdiction only (not applicable law). IP rights are protected on a national or regional territorial basis, but the nature of the subject matter underlying IP (eg inventions, written works, etc) allows in the internet age, almost instantaneous cross-border movement. Determining whether the English court has jurisdiction over an IP infringement action brought before it is therefore a complex issue. General principles IP infringement may involve considerations of tort and/or of contract law (eg the interpretation of a licence). Where
PRACTICE NOTES
ARCHIVED: This Practice Note has been archived and is not maintained. This case tracker focuses on insurance and reinsurance-related court cases and decisions. The Insurance & Reinsurance case tracker displays the status of court cases reported since January 2022 (including upcoming appeals) and is updated fortnightly. The following abbreviations are used: • European Court of Justice/Court of Justice of the European Union—ECJ • Supreme Court—SC • Court of Appeal—CA • High Court—HC • King's Bench Division—KB • Technology and Construction Court—TCC For previous years, see: • Insurance & Reinsurance case tracker—2021 [Archived] • Insurance & Reinsurance case tracker—2020 [Archived] • Insurance & Reinsurance case tracker—2019 [Archived] Decided cases 2022 December Court Case name Subject Details KB Dassault Aviation SA v Mitsui Sumitomo Insurance Co Ltd [2022] EWHC 3287 (Comm) Subrogation and non-assignment clauses The English Commercial Court found that a non-assignment clause in an English aircraft sale contract precluded the insurer's operation of a power of subrogation under Japanese law. This is a decision which may come
PRACTICE NOTES
This Practice Note sets out the basis for professional negligence claims by disappointed beneficiaries against the draftsperson who drew up the relevant Will. Professional negligence claims In broad terms, in order to succeed in a negligence action a claimant must show that the: • defendant owed a duty of care to the claimant • defendant breached their duty by an act or omission • loss for which the claimant seeks damages was caused by the act or omission, there is a sufficient nexus between the loss and the act or omission and the loss is not too remote • loss is not vitiated by another factor such as a failure to mitigate Any claim must also be brought within the relevant limitation period. For further details, see Checklist: Professional negligence claim—scope of duty, causation and remoteness and Practice Note: Bringing a professional negligence claim based on the duty in contract, tort and equity (available subject to subscription). The duty of care Historic position The historic position was that a beneficiary could have no cause of
PRACTICE NOTES
This Practice Note deals with the duty of care owed by road users to others in road traffic accidents including car drivers or motorists, passengers, pedestrians and cyclists. Road users have a duty to take reasonable care to avoid causing damage to others using or present on the highway. The standard of care required is the care and skill of an ordinary driver and no allowance is made for the inexperienced or learner driver. The road user should also anticipate that other road users or persons on the highway may not show this requisite standard of skill, experience and care. Road traffic accidents are a large source of work for personal injury practitioners, giving rise to claims that span the full spectrum of severity and complexity. The principal cause of action is negligence: though there are times when statutory duties, nuisance or contract are relevant, the legal framework for the great majority of claims is the duty to drive with ordinary care and skill. For guidance on specific types of accident, see Practice
Q&As
What are the UK EMIR additional risk mitigation requirements? UK EMIR imposes additional risk mitigation requirements on counterparties engaging in non-centrally cleared OTC derivative contracts. These requirements are designed to mitigate operational and counterparty credit risks. The principal risk mitigation technique which UK EMIR requires counterparties to apply is the provision of collateral (usually referred to as margin). For information, see Q&A What are the UK EMIR margin requirements? and Practice Note: UK EMIR—essentials — Margin requirements. In addition, UK EMIR requires counterparties to apply the following risk mitigation techniques: • timely confirmation • portfolio reconciliation • portfolio compression • dispute resolution, and • marking to market/marking to model What is timely confirmation? Timely confirmation requires that non-centrally cleared OTC derivative contracts be confirmed within specific deadlines. This requirement ensures that both parties agree on the terms of the contract promptly, reducing the risk of disputes and operational errors. For contracts where each counterparty is a financial counterparty (FC) or a non-financial counterparty (NFC) whose total OTC derivatives positions exceed
Q&As
What is the UK EMIR trade reporting obligation? The trade reporting obligation under Assimilated Regulation (EU) 648/2012 (UK EMIR) is a regulatory requirement designed to increase transparency in the derivatives markets by requiring UK counterparties and central counterparties (CCPs) to report the details of any derivative contract entered into, modified or terminated to a trade repository (TR) which has been registered or recognised under UK EMIR. Which derivatives does the trade reporting obligation apply to? The trade reporting obligation under UK EMIR applies to all derivative contracts. This obligation is not limited to over-the-counter (OTC) derivatives but also includes exchange-traded derivatives (ETDs). There is an exemption for intragroup transactions if: • at least one of the counterparties is an non-financial counterparty (NFC) or would be qualified as an NFC if it were established in the UK • both counterparties are included in the same consolidation on a full basis • both counterparties are subject to appropriate centralised risk evaluation, measurement and control procedures, and • the parent