Title sheet meaning

This checklist outlines the principal ISDA documentary points that should be considered during a financing transaction. Term sheet stage If acting for a borrower and specialist hedging advisers are engaged, obtain their input on the term sheet. If acting for a borrower, confirm the total pricing of the deal is clear (covering both the loan and the hedge). A borrower may pick a lender for a low loan margin, only to find that the swap credit spread from the same lender renders the overall economics less appealing than those from another lender. Are the loan and hedging set on an IBOR basis (eg EURIBOR) or on a risk free rate (eg SONIA or SOFR)? Does the lender require a zero floor in its loan? If acting for a borrower, ensure the borrower understands the consequences of any mismatch between this and the hedging documentation. ...

ARCHIVED : This Checklist has been archived and is not maintained . STOP PRESS: From 1 November 2024, the UK’s new securitisation framework took effect, annulling and supplanting the onshored EU legislative regime. Although the UK rules broadly preserve the substance of the prior onshored EU approach, they part company in several notable respects, including scope, risk retention, transparency, due diligence and STS designation. For a side-by-side of the STS criteria under both frameworks, see Practice Note: UK and EU securitisation regimes—comparison. On 17 June 2025, the European Commission issued its long-anticipated review of the EU Securitisation Framework, together with an extensive legislative package proposing amendments to the EU Securitisation Regulation (Regulation (EU) 2017/2402), the EU Capital Requirements Regulation (Regulation (EU) No 575/2013), the EU Solvency II Delegated Regulation (Commission Delegated Regulation (EU) 2015/35) and the EU Liquidity Coverage Requirement Delegated Regulation (Commission Delegated Regulation (EU) 2015/61). Proposed changes to the EU Securitisation Regulation cover, among other matters, risk retention, due diligence, transparency, STS on-balance sheet securitisations and...

Checklist This Checklist sets out the practical actions for creating, drafting and quality-checking a Participant Information Sheet (PIS) for UK clinical research. It describes what the PIS is for and how it works, and gives hands-on advice on the essential components, addressing content and presentation alongside layout, format and style. The Checklist also explains how the PIS should meet obligations under UK data protection law, including the transparency duties in the United Kingdom General Data Protection Regulation, Assimilated Regulation (EU) 2016/679 (UK GDPR). It is suitable for any study involving human participants, with particular emphasis on clinical trials of investigational medicinal products (CTIMPs). A clinical trial is a study in human subjects intended to identify or confirm the effects of an adverse reaction to a medicinal product. In the UK, such trials are governed by the Medicines for Human Use (Clinical Trials) Regulations 2004 (MHU(CT)R 2004), SI 2004/1031, which transposed EU Directive 2001/20/EC, the Clinical Trial Directive (CTD), into domestic law. These rules create a legal framework designed to...

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This Flowchart outlines the process for determining whether an external suspicious activity report (SAR) must be submitted to the National Crime Agency (NCA). It also covers both relevant circumstances in which a member of staff: raises a concern, and files an internal SAR with the nominated officer See further Practice Notes: Making a SAR and obtaining a defence or consent, or for law firms Making a SAR and obtaining a defence or consent—law firms, and Precedent: Submitting a SAR—information gathering sheet for reporters...

Emagine Films Ltd v Mister Smith Entertainment Ltd and another company [2019] EWHC 2085 (Ch) (30 July 2019) What are the practical implications of this case? This decision underlines how difficult it is to legislate for every eventuality in preliminary papers for complex deals, and how implied terms can be used to address unforeseen gaps. An unanticipated issue arose after the term sheet was signed: the producer declined to accept terms consistent with those originally contemplated. The problem did not lie in the term sheet anticipating further formal documentation; that feature did not, by itself, render the arrangement uncertain or ineffective. Rather, the difficulty stemmed from the producer’s refusal to agree to fundamental matters that both Mister Smith and Emagine had assumed would be accepted. In those circumstances, the court was willing to imply a term that brought the term sheet contract to an end. The outcome illustrates that, where expectations central to a term sheet are not met, an implied term may operate to terminate the...

Emotional Perception AI Ltd seeks to promote a so-called 'Frankenstein test' that merges the European Patent Office's (EPO) endorsed approach, intended purely to excise certain patentability exclusions obstructing protection for its invention, counsel for the UK Intellectual Property Office (UKIPO) told the court on 22 July 2025. Describing it as 'a recipe for disaster', Brian Nicholson KC, acting for the comptroller-general of patents, said on 22 July 2025 that almost every patent case would then have to decipher a new standard from the sheet his learned friend handed round. Emotional Perception aims to obtain a patent for an artificial neural network, or ANN, which offers media recommendations by reference to the 'physical' properties of another song or image, as part of its bid to secure patent protection ultimately...

Trump approved the order on the evening of 20 February 2026, introducing a 10% levy due to apply from 24 February 2026 until 24 July 24 2026 under section 122 of the Trade Act of 1974 (TA 1974). Under this provision, the President may impose a baseline tariff of up to 15% on every country for no more than 150 days, unless Congress authorises a longer period. Many classes of products are carved out from the section 122 charge, covering imports already facing particular sectoral duties, plus items not widely produced at home, including food, books and textiles, per a White House fact sheet. On 21 February 2026, Trump posted on Truth Social that he would promptly lift the Section 122 tariff to the statutory ceiling of 15%, immediately and in full as announced there...

This Practice Note sets out the particular rules governing VAT on costs that fall to be the subject of either summary or detailed assessment before the High Court. The applicable provisions are contained in CPR PD 44. Entitlement to This is addressed at CPR PD 44, para 2.3 through to CPR PD 44, para 2.6. The party seeking recovery of costs bears responsibility for ensuring that VAT is claimed only if, and only to the extent that, it cannot recover from HMRC the VAT it has incurred (CPR PD 44, para 2.4). if the VAT is recoverable from HMRC, it should not be included in a claim for costs if only a proportion of the VAT is recoverable from HMRC, include only that proportion which is not recoverable from HMRC in the claim for costs The legal adviser’s VAT registration number must appear in a prominent position at the head of every statement, bill of costs, fee sheet, account or voucher...

Term Meaning Accounting reference date On incorporation, a company is typically assigned an accounting reference date, being the final day of the month that contains the anniversary of its incorporation. Directors can alter this by submitting the relevant form to the Registrar of Companies. It denotes the end of the annual accounting period and is also called the balance sheet date. Accounts payable Sums a business or individual owes to others for goods or services already received. Accounts receivable Sums due to a business or individual from others for goods or services supplied. Accrual In company accounts, recognition of income earned or costs incurred during a reporting period, even though the cash has not yet been received or paid. Adjusted earnings Where reported earnings are affected, positively or negatively, by exceptional one-off events in the year, directors may present adjusted earnings to clarify performance. These are earnings with exceptional items excluded, which they believe better indicate the underlying results...

A glossary of frequently used terms and phrases in Scottish Private Client law, with the closest England and Wales equivalents (where applicable) and links to helpful websites Ab intestato Meaning From someone who dies without a will; describes property taken under the laws of intestate succession. Nearest English equivalent None Action of specific implement Meaning A court action seeking an order compelling a party to carry out a particular act. In Scotland there is no division between equitable and legal remedies, unlike England and Wales. Nearest English equivalent Specific performance (an equitable remedy for breach of contract that can be ordered alongside, or in place of, damages) Advance notice Meaning An entry in the relevant property register that protects the grantee of a deed intended for registration in the Land Register of Scotland. The protected period of 35 days begins on the day after registration....

[ On the headed notepaper of the creditor’s solicitors ] Our ref: [ insert ] FAO [ Insert name ] [ Name of debtor’s solicitors ] [ Address line 1 ] [ Address line 2 ] [ Postcode ] [ Date ] Dear [ insert name ] [ Insert creditor’s name ] AND [ insert debtor’s name ] Letter of claim We refer to our letters of [ insert date(s) ] regarding the above issue concerning [ insert brief details ]. Notwithstanding the requests within that correspondence, our client remains unpaid for the outstanding payment [ s ] identified below. Accordingly, this constitutes our client’s letter of claim, issued pursuant to the Pre-Action Protocol for Debt Claims (the Protocol). We set out below details of our client’s claim and enclose copies of the principal documents. We also enclose a copy of the Protocol for your reference, together with the required Information Sheet, Reply Form and Standard Financial Statement. [...

Raw data required Total number of full-time fee earners – [ Insert number ] Total number of part-time fee earners – [ Insert number ] Total number of days per week worked by part-time fee earners – [ Insert number ] Total chargeable hours – [ Insert number ] Hourly rates being charged – £[ Insert figures ] Value of WIP billed – £[ Insert figure ] Billings – £[ Insert figure ] Calculating the variables Please click for an Excel version of this variable calculation sheet and an illustrative worked example. Number of fee earners as FTEs — Formula: Full-time fee earners plus pro rata part-time fee earners; Calculation: [ Insert details ]; Result: [ Insert result ] Average annual chargeable hours per fee earner — Formula: Firm’s total chargeable hours ÷ number of fee earners; Calculation: [ Insert details ]; Result: [ Insert result ] Average hourly rate — Formula:...

Precedents This curated collection brings together worked examples for the following precedents listed: Annual budget—law firms Monthly budget—law firms Budget variance analysis—law firms Cashflow forecast—law firms Cashflow variance analysis—law firms Balance sheet forecast—law firms Collectively, these are commonly known as management accounts. Please note and be aware that our consolidated management accounts are produced in Excel, and therefore they cannot be downloaded into Word...

Was a tenancy created with this agreement? Because the term is under three years, a lease can still indeed be valid even though it was not executed as a deed. Therefore, a tenancy could have come into being based, provided there is exclusive possession (see commentary Halsburys Laws of England, 8. Nature of grant of exclusive possession), certainty of term, and payment of rent. The tenancy might also have been protected by the Landlord and Tenant Act 1954 (LTA 1954) on the footing that it was a fixed term lasting more than six months in duration...