Insurance Review Period meaning

Scrutiny of construction documentation is typically pertinent to assets constructed within 12 years of the purchase date, or, for older properties, where works have been undertaken in the preceding 12-year period; however, treat this timeframe as a practical minimum only, since extended limitation periods for certain building safety-related claims may warrant a broader review for property that is, or includes, residential accommodation. See Practice Note: The construction due diligence process. This Checklist sets out the principal points that must be considered following receipt of the construction documents in relation to the property concerned. The papers should be reviewed at the outset and these key issues evaluated before putting any pre-contract enquiries to the seller. For an example of a list of pre-contract enquiries, see: Construction pre-contract enquiries-checklist. Documents (1) Confirm that a complete suite of construction documents relating to the property's construction and/or to works completed in the last 12 years, or any longer period as appropriate, has been provided and properly...

Purpose If you need to acquire assets—particularly high-cost capital equipment—but lack the cash to pay outright, leasing or hire purchase (HP) can provide an alternative to a loan. These options allow payment by instalments over time so future business revenues can fund those instalments. Cars and commercial vehicles Agricultural machinery Plant and machinery Computers Office equipment such as printers/copiers Hotel/restaurant equipment Review checklist—key risks Cost Under a lease or HP arrangement, the lessee/hirer pays a deposit and a series of instalments across an agreed period (usually 24 to 60 months or more). With HP only, there is an option—without any obligation—to buy the asset(s) at the end of the hire term. CHECK: the total payable under the lease or HP agreement does not exceed the interest otherwise payable on a loan for the same period...

In this issue: Brexit headlines Brexit SIs Post-Brexit transition guidance Coronavirus (COVID-19) Constitutional and administrative law Judicial review Equality and human rights Information law Subsidy control and State aid Public procurement Management and strategic planning Other Public Law updates Daily and weekly news alerts New and updated content Dates for your diary Trackers Useful information Brexit headlines Brexit Bulletin—FCDO releases the agenda for the 13th meeting of the Withdrawal Agreement Joint Committee. Scheduled for 16 May 2024, the session will run in person and via videoconference. Items slated include: a stocktake of Specialised Committee work from 29 September 2023 to 16 May 2024; an update on the Withdrawal Agreement under Article 164; citizens’ rights; the Windsor Framework; and measures to be adopted by the Joint Committee. See: LNB News 08/05/2024 55. Weekly summary of EU–UK TCA Specialised Committees’ publications—8 May 2024. This digest sets out details...

In this issue: Autumn Budget 2024 Brexit highlights Post-Brexit transition guidance Brexit SIs Constitutional and administrative law Judicial review State accountability and liability Public procurement Subsidy control and State aid Projects and infrastructure Management and strategic planning Information law Daily and weekly news alerts New and updated content Dates for your diary Trackers Useful information Autumn Budget 2024 Autumn Budget 2024—key Public Law announcements In the Autumn Budget 2024, on 30 October 2024, the Chancellor of the Exchequer, the Rt Hon Rachel Reeves MP, set out a series of measures of interest to Public Law practitioners, touching on devolved matters, state security and intelligence, state accountability and liability, Ukraine policy, public procurement, projects and infrastructure, the state pension, and trade. Paul Maile, partner and head of planning and infrastructure consenting at Eversheds Sutherland, and Clive Weber, consultant at Wedlake Bell, provide commentary on the proposals. See:...

In this issue: Probate Trusts Court of Protection UK taxes for Private Client HMRC Manuals updates Tax avoidance, evasion and non-compliance Budgets and Finance Bills Pensions, insurance and tax efficient investments Scotland, Wales and Northern Ireland International Question of the week Additional Private Client updates this week Daily and weekly news alerts LexTalk®Private Client: a Lexis+® community New and updated content Dates for your diary Trackers Latest Q&As Useful information Probate HMCTS Probate application processing times continued to improve to the end of 2024 HM Courts and Tribunals Service (HMCTS) has released figures showing that probate application processing times kept improving across the year to December 2024. In December 2024, the average wait was a little over four weeks, a striking turnaround from the end of 2023, when applicants typically faced 12 weeks for their applications to be dealt with. Digital submissions, which represent...

Who insures? Joint insurance From a tenant’s standpoint, the preferred arrangement is for the premises to be insured in the joint names of the landlord and the tenant. For the tenant, the key advantages are: both parties are alerted before the policy comes up for renewal or lapses any insurance proceeds are payable jointly to landlord and tenant, giving the tenant influence over how the funds are applied (and therefore over the reinstatement of the premises) there are no detrimental effects if the landlord enters liquidation before reinstatement is carried out the insurers cannot rely on their right of ‘subrogation’ (see Subrogation below) against the tenant for damage the tenant caused or contributed to Nevertheless, in many cases arranging insurance in joint names will not be practical...

Negotiation Guide This Negotiation Guide sits within the Practical lease negotiation collection. See also Practice Note: New starter guide—entering into new commercial leases. An alterations clause sets out how far (if at all) a tenant may undertake alterations to the demised premises. Contemporary commercial leases usually separate alterations into: prohibited alterations alterations allowed with the landlord’s consent alterations allowed without the landlord’s consent If, unusually, the lease contains no alteration restrictions, the tenant may carry out any alterations to the demised premises. More often, commercial leases impose a general ban on alterations, with carve-outs for defined categories of works (eg internal non-structural changes) that may proceed either with, or without, the landlord’s prior consent. Drafting by exception in this manner helps to minimise confusion and reduce the risk of future disputes. The scope of permitted alterations—and any conditions attached to them—is shaped by the nature of the premises, the duration of the lease and the landlord’s plans for...

Class actions—USA—Q&A guide This Practice Note presents a jurisdiction-specific Q&A on class actions in the USA, featured in the Lexology Getting the Deal Through series by Law Business Research (law stated at: 9 October 2022). Authors: Cleary Gottlieb Steen & Hamilton LLP— Roger A Cooper; Lina Bensman; Allison Kim. 1. Outline the organisation of your court system as it relates to collective or representative actions (class actions). In which courts may class actions be brought? The American court structure comprises two parallel systems: the federal courts and the state court systems. The federal judiciary operates on three tiers: Trial courts, termed the ‘US District Courts’, located nationwide; Thirteen intermediate appellate courts, the ‘US Courts of Appeals’; The highest court, the ‘US Supreme Court’. The Supreme Court has jurisdiction over all matters brought in federal courts, and over cases from state courts that involve federal law. Broadly, state court systems reflect the same three-tiered model, although terminology can vary and,...

1 General information Review timeframe [ Insert review period ] Review date [ Insert date ] Individual(s) carrying out the review [ Insert name(s) ] 2 Data Total count of high-risk clients [ Insert number ] Total count of high-risk matters [ Insert number ] Total count of these that pertain to PEPs [ Insert number ] Total count of these that concern false or stolen identification documentation [ Insert number ] Total count of these that involve sanctioned entities [ Insert number ] Total count of these that present a proliferation financing concern [ Insert number ] Total count of these that involve clients who are beneficiaries of life insurance policies where the retainer has a direct link to the policy [ Insert number ] Total count of these that concern clients seeking residence/citizenship rights of a state in exchange for investments in that state [ Insert number ] Total...