Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Availability definition

What does Availability mean? In asset-based lending, availability is the borrowing headroom a borrower can draw at a given time, calculated by reference to the agreed borrowing base. It is a commercial term used in ABL facility agreements rather than a concept defined by legislation or case law in England & Wales, Scotland, Northern Ireland or Ireland. Availability typically equals the sum of advance rates applied to eligible asset classes (commonly receivables and inventory/stock, and sometimes plant and machinery or real estate components) less agreed reserves and less current utilisation, and is always capped by the facility limit. It is affected by eligibility criteria,...

Provisional awards under the Arbitration Act 1996: interim relief, party consent, enforcement, institutional rules, key authorities and the 2025 Act’s s39A summary power (England, Wales and Northern Ireland)

Published by a LexisNexis Arbitration expert

Practice notes

This Practice Note considers the availability of provisional awards under the Arbitration Act 1996 (AA 1996), pending the Arbitration Act 2025.

The Arbitration Act 2025 secured Royal Assent on 25 February 2025. For details of its commencement, see Practice Note: When will the Arbitration Act 2025 come into force?

A provisional award supplies, on an interim footing, a remedy that the arbitral tribunal could equally grant by a final award (AA 1996, s 39(1)). The tribunal does not possess an inherent power to issue a provisional award; such authority must be conferred by agreement of the parties (AA 1996, s 39(4)).

Provisional awards may include orders for:

the payment of money
the disposition of property between the parties
an interim payment on account of the costs of the arbitration

See also EGF v HVF, noting that the parties were free to confer on arbitrators the power to order, on a provisional basis, any relief they could grant in a final award, including a provisional order requiring payment of money between the parties...

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Richard Bamforth

CMS

Richard is Head of the International Litigation Practice Group and a member of the International Arbitration Group at CMS. Richard specialises in international commercial arbitration, commercial litigation and alternative dispute resolution, with a focus on cross border disputes in the media, banking, finance, insolvency, energy and telecommunications sectors. He has represented clients in arbitrations conducted under all the major institutional rules (ICC, LCIA, UNCITRAL) and other ad hoc arbitrations. He also sits as an arbitrator, appointed direct by parties and by the arbitral institutions, and is accredited as a mediator by the Centre for Effective Dispute Resolution (CEDR). Richard is recommended for International Arbitration in Chambers & Partners 2015 (where he is described as having a 'full perspective on the arbitration space') and in Legal 500 2014. ...

Maxie Chopard

CMS Cameron McKenna Nabarro Olswang LLP

Maxie works closely with her clients to manage and resolve complex, multi-jurisdictional disputes. She has acted for clients in the life sciences and pharmaceutical, technology, media and telecommunications, and energy and construction sectors both in High Court litigation and under the rules of major arbitral institutions. She regularly undertakes pro bono work, providing legal advice through the Islington Law Centre on consumer law, housing and employment matters. ...

Sarojah Sathivelu

CMS Cameron McKenna Nabarro Olswang LLP

Sarojah is an associate in the CMS Litigation & Arbitration team. Sarojah’s work involves broad range of practice areas, including media and reputation management, competition claims, arbitral disputes and fraud. ...

Web page updated on 21/05/2026

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