Inter-bank rates meaning

This Checklist highlights the principal points and potential pitfalls to address when preparing and agreeing a payment clause in a business to business contract, covering late payment as well. For a model clause, see Precedent: Payment clause-commercial contracts. Guidance on late payment is in Practice Notes: Penalty interest rates in commercial contracts and Late Payment of Commercial Debts (Interest) Act 1998, including, in particular, the sections on: Contracts, organisations and debts subject to LPCD(I)A 1998 Calculating the statutory interest Express terms for late payment in place of statutory interest Meaning of 'grossly unfair' Price and payment terms in a contract are often closely linked. When using this checklist, also refer to: Drafting and negotiating a price clause-checklist. Legal issues, general comments and what to watch out for are noted. Late payment legislation The Late Payment of Commercial Debts (Interest) Act 1998 (LPCD(I)A 1998) allows all businesses and public sector bodies to claim statutory interest on late payment of commercial...

Financial services developments FCA updates perimeter report and publishes work programme and fees proposals for 2026/27 The Financial Conduct Authority (FCA) has issued its annual work programme for 2026/27, refreshed its perimeter report, and opened consultation paper CP26/11, which sets out its proposals on the rates for regulated fees and levies for 2026/27. Responses to the consultation are requested by 30 April 2026. The Annual Work Programme sets out initiatives intended to streamline processes, remove friction where appropriate, and help firms operate more efficiently, while upholding high standards across the financial sector. It features, among other things: embedding AI in regulatory workflows to detect harm more effectively and accelerate regulatory decision-making processes using generative AI to review documents received from firms, supporting quicker, more timely decisions...

Restructuring & Insolvency weekly highlights—27 November 2025 In this issue: Key R&I law developments Insolvency litigation Restructuring Directors and insolvency The office-holder Financial institutions R&I in Scotland Daily and weekly news alerts Key dates for restructuring and insolvency professionals New content New Q&As Key R&I law developments Budget 2025—key Restructuring & Insolvency announcements On 26 November 2025, the Chancellor of the Exchequer, the Rt Hon Rachel Reeves MP, set out measures of note for restructuring and insolvency practitioners. Plans cover business rates changes, hiring extra Insolvency Service staff to combat abusive phoenixism and rogue directors, the creation of the Public Authorities Fraud Investigation and Enforcement Service, and adjustments to National Insurance Contributions. See: LNB News 26/11/2025 65. Council of the EU agrees directive harmonising insolvency law across member states Negotiators for the Council of the EU and the European Parliament have reached a provisional deal on a directive aligning...

In this issue: Repairing obligations and dilapidations Trespass and adverse possession Service charges Residential tenancies Disputes and remedies Rent and rates Easements and covenants Property disputes in Scotland Additional Property Disputes updates LexTalk® Property Disputes: a Lexis®Nexis community Daily and weekly news alerts New and updated content Dates for your diary Trackers Repairing obligations and dilapidations Building Safety Act—remediation contribution orders—respondents’ appeal dismissed in Vista Tower (Grey GR Ltd Partnership v Edgewater (Stevenage)) In Grey GR Ltd Partnership v Edgewater (Stevenage) [2025] Lexis Citation 276, the Upper Tribunal (UT) rejected the respondents’ appeal against the First-tier Tribunal’s (FTT) grant of a remediation contribution order under section 124 of the Building Safety Act 2022, made against 75 respondents. Marcus Birch of BCLP reviews the decision. See News Analysis: Building Safety Act—remediation contribution orders—respondents’ appeal dismissed in Vista Tower. High Court held progressive failure of window seals constituted disrepair (Better...

ARCHIVED: Released in 2020 and not actively maintained, this Market Standards trend report—produced with White & Case and Activist Insight, and featuring contributions from UBS Investment Bank, Georgeson and Greenbrook—examines recent UK shareholder activism, including a look back at H1 2020. It also sets out how companies can ready themselves for an activist approach and offers guidance for activists on running a successful campaign in the UK... What does the Market Standards trend report cover? Activity levels, such as the number of companies targeted and the capital committed to campaigns Target company profile, covering industry sector and size Activist profile, including the volume of first-time activists The nature of the demands activists are making How far activists succeed in securing their objectives How companies can prepare for an activist approach Tips for running a successful activist campaign...

Real estate finance (REF) transactions REF deals fall into two categories: investment finance and development finance. The difference depends on whether the property is bought as an investment that already produces income, or acquired with the intention that it will be developed. Investment finance transactions are encountered more frequently than development finance transactions. For a general introduction to investment facilities in real estate finance, see the following Practice Notes: Introduction to real estate finance—the lending structure Real estate finance—investment facilities—key features The Loan Market Association (LMA) has issued a recommended form of facility agreement for real estate finance investment transactions, accompanied by a user guide. Both are available to LMA members—see the Single Currency Term Facility Agreement for Real Estate Finance Multi-property Investment Transactions (LMA REF Investment Facility Agreement) and the related user guide on the LMA website. Real estate finance transactions can differ markedly, and the LMA acknowledges in its user guide that producing a genuine ‘standard form’ document for...

This Practice Note forms part of a multi-jurisdictional guide outlining essential aspects of establishing specific business entities across global jurisdictions. Leading law firms in the Multilaw worldwide network respond to key questions on this topic. This edition sets out principal considerations when creating a representative office in Thailand. Current as at 13 January 2023. Authors: Kobkit Thienpreecha and Athistha Chitranukroh, Tilleke & Gibbins, a Multilaw member firm. Common entities Which entity type is addressed here, and which other commonly used forms are covered in separate responses? This response concerns the representative office. The public limited company and the private limited company are discussed in distinct responses. Identify other entity types that exist in this jurisdiction but are not covered at this time: Regional office Limited liability partnership General principles What is the principal source of law authorising this entity? Regulations of the Office of the Prime Minister B.E....

Standard CFA (success fee and costs insurance premium not recoverable inter partes) We have explored several ways to fund your costs, including: legal expenses insurance, e.g. under your home or car insurance through a trade union or other membership organisation via a third-party funding arrangement through legal aid [any other method you may have discussed] As none of these routes is available or appropriate, we have agreed to act for you on a no-win-no-fee basis. This is a conditional fee agreement (CFA), and we have enclosed the agreement with this letter. We are satisfied that this CFA suits your needs and serves your best interests. Key features of no-win-no-fee The table below sets out what you would be responsible for if you succeed, and whether those sums can be recovered from your opponent. Our base costs, which depend on the time spent on your case and are calculated at the hourly rates stated in...