Jurisdiction(s):
United Kingdom

Key definition

Long-term definition

What does Long-term mean? Long-term describes obligations, assets or investments extending beyond the short‑term horizon; the precise threshold depends on context and governing standards used in legal practice and finance. In the Eurobond market, it commonly refers to securities with an initial maturity of more than seven years. Under accounting standards (IFRS and UK/Irish GAAP), amounts due or receivable after more than twelve months are presented as non‑current; accordingly, long‑term debt denotes borrowings with a remaining maturity of over one year. This classification affects balance sheet presentation, disclosure and covenant calculations. In loan, security and capital markets documentation across England & Wales, Scotland, Northern...

Supply chain risk management for in-house lawyers: risk classification, supply chain visibility and due diligence, contractual controls and KPIs, supplier financial viability, and sole-sourcing strategy

Published by a LexisNexis Risk & Compliance expert

Practice notes

This guide to supply chain risk management sets out five core priorities for in-house counsel and compliance teams when confronting supply chain threats. It outlines why close oversight of these points helps keep business operations running smoothly across the organisation and its functions effectively. See also Practice Note: Supply chain fundamentals.

Why you need to manage this risk

The 2020 COVID-19 pandemic was arguably the most consequential shock to the global economy in many generations experienced worldwide. It offered risk professionals a stark demonstration of widespread vulnerabilities within supply networks, and underscored the imperative to proactively identify, measure and control such exposures through deliberate, ongoing management rather than passive oversight at every stage. A supply chain map begins with sourcing raw materials and extends through to finished goods production, capturing all intervening activities and flows. According to your organisation’s sector, that chain might be compact, with only one or two stages, or it may comprise numerous tiers, interfaces and dependencies, with complex interactions across multiple participants. As in-house counsel or a compliance specialist, your task is to craft tools that enable the business to recognise, control and reduce its supply chain risks. See: Contract risk management clauses—checklist. Certain supplies may...

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Web page updated on 22/05/2026

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