Terms and Conditions: How to get it right
Whether you are just starting up a new business, celebrating your 20th year in the industry, agreeing terms with a new business partner or dealing with a long-time known entity, it is important to ensure your standard terms and conditions (T&Cs) are in order and fit for purpose.
This is a task which rarely tops a business’s to-do list. However, neglecting to review business T&Cs can result in unforeseen and often adverse consequences; such as unlimited liability if something goes wrong, an inability to terminate the contract without penalty if you no longer wish it to continue and/or your being tied in to unfavourable obligations you were not aware applied. All of these factors become even more important if you are preparing to sell your business or obtain outside investment.
In this article, our Commercial Team highlight four important issues all businesses should consider when reviewing their standard T&Cs and discuss the potential pitfalls of dealing on unsuitable T&Cs. The full article can be found here.
Immigration issues in corporate transactions
Organisations need to be alert to immigration issues when involved in corporate transactions. All employers in the UK are subject to duties surrounding the Prevention of Illegal Working (PIW). These require certain checks to be carried out in relation to all potential employees (including British nationals) prior to the commencement of their employment, in order to establish their right to work in the UK. Following those checks, specified documents must be kept on an employee’s personnel file to provide an excuse against a potential civil penalty (known as a statutory excuse), in case the employee in question is found to be working without appropriate permission.
In this article, which can be found here, Chetal Patel outlines the issues and explains how careful consideration is the key to avoiding unpleasant surprises.
BWB recent deals
- Acted for Element Materials Technology on its acquisition of TRaC Global for £44.5 million from Bioquell Plc.
- Acted for SP Angel on a placing by Mosman Oil and Gas Limited.
- Acted for The Alan Edwards Higgs Charity on the sale of its interest in Arena Coventry Limited (Coventry City football stadium) to London Wasps Holdings Limited.
- Acted for The Ethical Property Company Limited on a recent share buyback.
Tea & biscuit with...Stephen Callender
Dislikes? That Gruffalos don't understand the weekend lie-in. The Big Bad Mouse.
What did you do last weekend? Gruffalo Hunting
BWB recommends...The Oyster Shed
What is it?
A bright riverside gastro pub in the city, one of the well-respected Geronimo Inns.
Why's it different?
it offers a contemporary gourmet twist on the classic pub menu, serving oysters in a relaxed space by the river in the heart of the city, and a great array of drinks.
Who will you take?
Take clients for an atmospheric lunch or head there with some friends after work for a relaxing drink by the river.
Where is it?
1 Angel Lane, London EC4R 3AB
£30 for two-three courses
Posted on 28/07/2015 in BWB PublicationsBack to Knowledge