Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Priority definition

What does Priority mean? Priority describes the order in which competing proprietary rights and security interests take effect against an asset and the sequence in which secured creditors are paid on enforcement or insolvency. It is a cross‑context concept informed by statute and case law (for example, land registration legislation, companies legislation on registration of charges, and equitable rules on notice). In practice, priority is usually set by time and method of perfection: creation and registration of mortgages/standard securities over land (e.g. under the Land Registration Act 2002 in England and Wales and the 2012 Scottish legislation), registration of company charges (at Companies House under...

UK B2B terms and conditions of sale: risk management priorities—standardisation, battle of the forms, even-handed drafting, payment protection, liability caps and uncertainty

Published by a LexisNexis Risk & Compliance expert

Practice notes

This risk management manual is aimed at UK commercial organisations. It sets out five key priorities around standard terms and conditions of sale and clarifies the significance of each. It also supplies action lists and specific action points for every priority so you can log your organisation’s risk management position.

Why you need to manage the risk

Sales-driven businesses are, at heart, focused on closing deals, booking income, and progressing swiftly to the next opportunity. Targets shape sales teams, who may avoid processes or stakeholders perceived to slow a transaction and, by extension, jeopardise their commission. As in-house counsel, you should map the organisation’s sales cycle, appreciate the (often cyclical) target pressures on the team, and position yourself as a facilitator rather than a choke point in the pipeline. Central to that aim is producing robust standard terms and conditions of sale that strike the right balance between safeguarding the organisation and supporting its ability to thrive. This guide explores standard terms and conditions for...

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Web page updated on 22/05/2026

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