Commercial - Verträge

Aktuelle eAlerts

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  12/12/2024

  UK, Middle East, UAE

  Challenging calls under on-demand securities: the fraud exception

  A recent decision of the Qatar International Court, applying English law principles, has ordered revocation of a demand under an on-demand guarantee on grounds of fraud. English law takes a robust approach to enforcement of on-demand securities and will only injunct demands alleged to be fraudulent in the clearest of cases. This decision shows how evidence of contradictory positions taken by a beneficiary can be used to mount a successful challenge based on fraud.The fraud exceptionEnglish law allows only very limited grounds on which to challenge calls under on-demand securities issued by banks...

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  10/12/2024

  International

  Construction contracts and choice of law for non-con­trac­tu­al obligations: risks and opportunities

  Non-contractual claims can in certain circumstances provide additional rights of action which are not otherwise available under a construction contract. The ability to choose the law governing such rights therefore provides an opportunity to employers and contractors to influence the extent to which such claims can be brought. A growing number of countries now permit parties such a choice, either through their domestic conflict of laws rules or as part of their arbitration law. In this Law-Now, we provide a summary of the relevance of non-contractual claims to construction disputes and some recommendations...

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  27/11/2024

  United Kingdom

  Interpreting caps on liability in construction contracts

  A Court of Appeal decision earlier this month has reversed a first instance decision as to whether set-offs should be included within an overall cap on liability. The Court’s finding that set-offs should count toward the cap in this case contrasts with an earlier TCC decision in which recoveries under performance securities were held not to fall within a cap on liability. The earlier TCC decision does not appear to have been cited to the Court of Appeal and the tension between the two cases raises a number of risks and opportunities which parties would be well advised to consider in the drafting...

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  24/10/2024

  Südafrika

  Navigating the African Investment Landscape: Op­por­tu­ni­ties, Trends, and Strategies

  Held under the theme “Navigating the African Investment Landscape: Opportunities, Trends, and Strategies,” our panel discussion sparked thought-provoking discussions and valuable exchanges on shaping the future of private equity in the region. Among the most pressing issues identified by speakers were exits, fundraising, regulatory approvals, value creation, ESG/DEI, and talent development. As the African private equity landscape evolves, investors increasingly focus on flexibility, strategic partnerships, and impact investing.The white paper below expands on the issues and key...

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  17/10/2024

  United Kingdom

  Ousting the Late Payment Act: what exactly is a “sub­stan­ti­al remedy”?

  Two recent TCC decisions have considered the scope for parties to oust the provisions of the Late Payment of Commercial Debts (Interest) Act 1998 (the “Late Payment Act”). In one case, the application of a penal rate of interest to undisputed debts was sufficient, even though no contractual interest rate was stipulated for disputed debts. In the other case, the court considered, and struck down, a contractual interest rate of 2% above the Bank of England base rate. These two decisions provide considerable clarity as to the requirements for ousting the Late Payment Act and parties may...

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  08/10/2024

  United Kingdom

  The new ABPI 2024 Code of Practice

  What’s new?The 2024 Association of the British Pharmaceutical Industry (the “ABPI ”) Code of Practice (the “2024 Code”) which was published on 23 September 2024, came into effect last week on Tuesday, 1 October 2024, replacing the 2021 version.   What is the 2024 Code?The 2024 Code sets out the requirements that all ABPI member companies must comply with and supports companies in their self-regulation. Its intended purpose is to allow companies to act in a professional, ethical and transparent way. The 2024 Code “reflects and goes beyond UK law”...

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