Contract for difference meaning

This checklist on debt claims sets out the principal points to assess when pursuing a claim for a straightforward contractual debt. You should examine the claim’s character, the parties bound by the contract, the debtor’s resources, the sum said to be owed, the client’s objectives for litigation, relevant limitation periods, and any possible questions of jurisdiction. This Practice Note is intended to be read alongside Practice Note: Starting a contractual debt claim—a practical guide. Issue Considerations Is the intended cause of action truly a claim in debt? Matters that seem to be debt claims may, in fact, amount to claims for damages. Recognising the difference is crucial because practical consequences vary markedly between actions in debt and actions for damages, so you must make sure you are seeking the correct remedy. For further guidance, see Practice Note: Debt claims. Who are the parties to the agreement?...

In this issue: Electricity and gas market regulation and licensing Networks and grid connections Renewable energy Capacity Market, balancing services and system flexibility Air emissions, efficiency and climate change International energy Daily and weekly news alerts New and updated content Dates for your diary Trackers Energy resources on Lexis+® Electricity and gas market regulation and licensing DESNZ has opened a consultation to strengthen Energy Ombudsman (EO) powers. It will concentrate on complaints from domestic energy suppliers, small enterprise complaints against non-domestic suppliers, and heat network complaints. Electricity and gas networks and third-party intermediaries will instead be consulted on separately. The plans include shortening the escalation period for complaints from eight to four weeks, allowing automatic compensation where EO decisions are not put into effect promptly, and granting the EO a statutory designation. DESNZ has also stated that Ofgem will regulate third‑party intermediaries, including energy brokers and price comparison sites, which have previously operated...

Practical implications This judgment: offers a clear and carefully set out account (with hypothetical examples) of the difference between how damages are assessed in contract and in tort underlines the importance of ensuring that suitable and necessary valuation evidence is put before the court for determination. Although the absence of such evidence did not prevent the court from arriving at a damages figure payable for breach of warranty, the task would have been more straightforward had that material been placed before the court, and it is ordinarily sensible to make sure it is hints at the potential value, in claims of this type, of pleading both damages for breach of warranty and, where the facts allow, an alternative tort claim for misrepresentation (especially if fraudulent). In this matter, however, it was the contractual warranty claim that enabled Mr Karim to recover What was the breach of warranty claim? Mr Wemyss sold his business (a law practice) to Mr Karim under...

In this issue: Standard form contracts Defects Consultants on construction projects Planning Procurement Construction industry news Daily and weekly news alerts New and updated content Construction trackers No Weekly Highlights on 24 April 2025 Standard form contracts JCT sets out intention to launch new Target Cost Contract at Parliamentary Reception JCT has set out plans to launch its new Target Cost Contract, part of the JCT 2024 Edition, at the annual Construction Industry Parliamentary Reception on 13 June 2025. The suite comprises a main contract, a sub-contract and guides, aimed at projects that adopt a target cost with arrangements to share any difference. Payment will be based on an 'allowable cost', a 'contract fee' and, where relevant, a 'difference share'. JCT is also producing online resources to help users with implementation. The Reception will recognise JCT’s achievements and provide an early glimpse of these resources. See: LNB News 16/04/2025 41...

Overview This Practice Note forms part of our LLB Contract Law series for law students. It surveys the remedies for breach of contract, with damages at the heart of the common law response. Setting remedies within the framework of contract, it explains when a party may terminate—most notably for breach of conditions and of innominate (or ‘intermediate’) terms. It then sets out the expectation principle from Robinson v Harman (1848) 1 Exch 850, stressing that an award should put the claimant in the position they would have been in had performance occurred. The Note next traces the principal constraints on recovery—causation, remoteness, and the duty to mitigate—and discusses leading cases on mitigation to show how these limits operate even once breach is proved. It also considers alternative measures—expectation, reliance and, in rare cases, restitutionary recovery—before addressing quantification, including the contrast between ‘difference in value’ and ‘cost of cure’ illustrated by Ruxley Electronics v Forsyth [1996] AC 344. Finally, it deals with non-pecuniary loss and the contemporary approach to liquidated...

What is the Pensions Advice Allowance? Following consultation in 2016/17, the government brought in, from 6 April 2017, the Pensions Advice Allowance. It enables eligible pension scheme members to withdraw a fixed sum from their pension pot tax-free to cover holistic retirement advice. At the member’s instruction, the scheme may therefore reduce the value of the member’s pot by the advice fee and pay the funds straight to the member’s adviser. This measure stemmed from the Financial Advice Market Review, which highlighted an advice gap affecting people who require retirement planning support but cannot meet the cost from net-of-tax income or savings. It is available in addition to other existing advice allowances and payment routes for advice. These include adviser charging, which does not permit pension monies to be used to fund holistic retirement advice. For further details, see Other types of pensions advice measures below. The government’s aim is to help those preparing for retirement to use the Pensions Advice Allowance to fund holistic...

Employment laws in the Republic of Ireland, Great Britain and Northern Ireland have much in common, as all operate within common law systems and many contemporary employment statutes flow from European Directives. Even so, divergences do exist and are likely to widen. This Practice Note outlines several distinctions between Great Britain and the Republic of Ireland. Care is advised when handling matters in Northern Ireland, where the framework is becoming increasingly distinct from Great Britain. For details on the differences between Great Britain and Northern Ireland, see Practice Note: Northern Ireland employment law. Main areas of difference employment status categories leave entitlements qualifying period and remedies under unfair dismissals legislation redundancy entitlements protected conversations and settlement agreements employment tribunal procedures transfers of undertakings (TUPE) immigration Categories of employment status In the Republic of Ireland, individuals engaged in work are typically classified as either ‘employees’ or ‘independent contractors’. There is no...

General This Precedent is a comprehensive maternity policy, appropriate for inclusion in a staff handbook or to operate as a stand-alone policy. It sets out the minimum leave entitlements required by the Maternity Protection Act, 1994 (Ireland), the Maternity Protection (Amendment) Act, 2004 (as amended) (Ireland), the Adoptive Leave Acts 1995 (Ireland) and 2005 (Ireland) and the Work Life Balance and Miscellaneous Provisions Act 2023 (Ireland). When creating and applying this policy, employers should remain alert to discrimination considerations. Maternity leave Core entitlements include the option to take up to one year’s leave, irrespective of the employee’s length of service. This comprises up to 26 weeks’ ordinary maternity leave (OML) and up to 16 weeks’ additional maternity leave (AML). A compulsory two-week maternity leave period applies, during which the employee may not carry out any work. Maternity leave rights arise only for individuals employed under a contract of employment. Maternity pay Where the employee satisfies the qualifying criteria for social welfare maternity benefit (from the...