Victoria FergusonThe Commercial Payments Bill has had its second reading in the House of Lords. The response was generally supportive with Lords acknowledging the need to protect small businesses from late payments. Concerns were raised...
Category - Contracts
Emma RadmoreCommercial Payments Bill introduced into Parliament
The Commercial Payments Bill has now been published. Some takeaways for Commercial lawyers: 💡 The name of the Bill has changed (was the Small Business Protections (Late Payments) Bill). 💡 There are carve outs for public...
FCA publishes work programme
The FCA has published its work programme for 2026/27 together with its perimeter report. The plans stress the FCA’s drive to be a smarter, more data driven regulator, and include detail on how it will use AI to...
FCA perimeter report calls for Government action
The FCA’s perimeter report has identified 15 areas where the FCA wants to see change from the government, including: removing self-certification for FPO purposes and raising the thresholds for the HNWI and...
12 practical tips to master your contracting: tip 12
It’s time for the last of our 12 tips! The tip for today is: Use your business’ standard forms 🚨 Businesses often have their own standard contracts for the supply or purchase of goods and services. Your...
12 practical tips to master your contracting: Tip 11
The tip for today is: Comply with the contract’s formality requirements 🚨 If you need to send a notice under the contract, exercise a right under the contract, or make a variation to the contract, you must make...
12 practical tips to master your contracting: tip 10
The tip for today is: Be aware of termination rights in the contract 🚨 Parties sign up to a contract with expectations that the collaboration will proceed smoothly. Sometimes though, things won’t go as planned or...
12 practical tips to master your contracting: tip 9
The tip for today is: Don’t start performing the contract until signed 🚨 It can be very tempting to start the supply of goods and services before the contract has been fully agreed and signed. It may be that you...
12 practical tips to master your contracting: Tip 8
The tip for today is: Make sure you sign and date the contract 🚨 Once you have agreed the terms of the contract with your counterparty you need to make sure it is fully signed and dated. 🚨 A signed contract usually...
12 practical tips to master your contracting: tip 7
The tip for today is: Make sure the contract is in final form ready for signing by the parties 🚨 Before the contract is signed, you need to check that all of the content is completed, this includes the content of the...
12 practical tips to master your contracting: Tip 6
The tip for today is: Be mindful what you write in an email 🚨 We know from yesterday’s tip that emails can be legally binding. To try and show that your email discussions are only discussions and not a contract...
12 practical tips to master your contracting: Tip 5
The tip for today is: Be careful of informal contracting 🚨 Contracts do not need to be in writing to be legally binding. They can be formed by telephone calls, exchanges of emails and even by WhatsApp exchanges. 🚨 A...
12 practical tips to master your contracting: Tip 4
The tip for today is: Keep the contract scope under review 🚨 If the services/deliverables are likely to change over time there could be value in including a mechanism for an annual (or more frequent) review of them. 🚨...
12 practical tips to master your contracting: Tip 3
The tip for today is: Make sure the scope of services and obligations is clear 🚨 Don’t use jargon which means that the scope is unclear. Be wary of using catch all wording and assuming that it will cover the...
12 practical tips to master your contracting: Tip 2
✅ Today is day 2 of 12 practical tips to master your contracting ✅ Use clear language in your contracts: 🚨 The purpose of a contract is to have a record of what the parties have agreed. It is really important that your...
12 practical tips to master your contracting: Tip 1
In the run up to the festive period, we will be sharing 12 practical tips to master your contracting. For day 1 the tip is…. Contracts are highly regulated, but the regulations don’t cover everything 🚨 In...