| 1 | Bonds, guarantees and standby credits: overview This note explains the differences between bonds, guarantees and standby letters of credit. It describes the functions of different types of bonds and guarantees and the function of standby letters of credit. It considers the issues buyers, sellers and issuers or guarantors of these instruments should be aware of. This note also considers the use of uniform rules such as the International Chamber of Commerce (ICC) Uniform Rules and, in relation to standby letters of credit, the Uniform Customs and Practice for Documentary Credits (UCP). | Practice note: overview | Maintained |
| 2 | Collateral warranties and third party rights on construction ... A quick guide to construction collateral warranties and third party rights aimed at those seeking to understand collateral warranties and third party rights for the first time. This is one of a series of quick guides, see Quick guides. | Practice note: overview | Maintained |
| 3 | Construction Industry Scheme (CIS) An overview of the Construction Industry Scheme, known as the CIS. The CIS is a special tax deduction scheme originally created in 1972. It has taken several forms (and names) since then. It sets out a framework for deducting tax at source from certain payments relating to construction work. | Practice note: overview | Maintained |
| 4 | Corporate insolvency: a guide An introduction to the aims of and background to corporate insolvency law, together with a brief overview of the various insolvency procedures available. This note also contains links to a multi-jurisdictional guide to restructuring and insolvency and a detailed note on US bankruptcy procedures. | Practice note: overview | Maintained |
| 5 | Guarantees and indemnities This practice note examines legal and drafting issues relating to guarantees and indemnities where the obligations of a third party are guaranteed and/or indemnified. This practice note considers the legal distinctions between primary obligations (indemnities, performance guarantees, performance bonds) and secondary obligations (guarantees). It provides an overview of relevant contractual issues relating to guarantees and indemnities (the statute of frauds, capacity) as well as legal issues (undue influence, duress, role of directors). It also provides links to our more detailed content on performance bonds, payment guarantees, comfort letters and our standard form guarantees and indemnities. | Practice note: overview | Maintained |
| 6 | Joint ventures: tax overview This practice note briefly describes the main tax issues to consider when establishing, operating and terminating UK-based joint ventures. | Practice note: overview | Maintained |
| 7 | Limited liability partnerships (LLP): overview An overview of the structure and operation of a limited liability partnership (LLP) incorporated under the Limited Liability Partnerships Act 2000. This note contains the law from 1 October 2009. For details of the law applicable to limited liability partnerships before 1 October 2009, see Practice note, Limited liability partnerships: overview: pre-1 October 2009. | Practice note: overview | Maintained |
| 8 | SRA Code of Conduct 2011 toolkit A toolkit to guide users through PLC's resources on the SRA Code of Conduct 2011. | Practice note: overview | Maintained |
| 9 | Anti-money laundering measures for lawyers: the 2007 rules This Practice note provides an overview of the money laundering regime that applies to lawyers pursuant to the Money Laundering Regulations 2007 (2007 Regulations). The 2007 Regulations came into force on 15 December 2007 and replace the Money Laundering Regulations 2003 (2003 Regulations). They bring the 2005 Directive on money laundering into effect in the UK. The 2007 Regulations introduce new requirements and vary requirements that were in the 2003 Regulations. In particular, the 2007 Regulations require that: The lawyer is able to identify the beneficial owner of client trusts, companies and partnerships. The lawyer applies customer due diligence measures and monitors client activities according to a risk-based approach, applying less stringent procedures for low risk situations and more stringent prcedures in higher risk situations. Training for staff is both regular and covers terrorist financing issues. Lawyers are also to have regard to the Law Society's anti-money laundering practice note published on 29 October 2009, and the Solicitors Regulation Authority's warning card on money laundering published in April 2009. Property lawyers should also take account of the joint Land Registry and Law Society practice note on property and registration fraud published in September 2010. | Practice notes | Maintained |
| 10 | CIS gross payment status: what to do if you lose it A practice note about gross payment status under the construction industry scheme. This note explains what gross payment status is and how a sub-contractor should deal with losing that status. NOTE: This resource is being reviewed in light of the 2012 Budget. For more information, see Legal update, 2012 Budget: key business tax announcements. | Practice notes | Maintained |
| 11 | Enhanced capital allowances (ECAs) for investment in ... A summary of the various enhanced capital allowance (ECA) schemes aimed at promoting environmental measures. | Practice notes | Maintained |
| 12 | Execution of deeds and documents This note deals with the execution of deeds and documents. It reflects the law on execution from 1 October 2009. For details of the law governing execution of deeds and documents before 1 October 2009, see Practice note, Execution of deeds and documents: pre-1 October 2009. | Practice notes | Maintained |
| 13 | General principles of insurance law This practice note explains the various doctrines and principles concerned with insurance, including: What constitutes an insurable interest. Subrogation. Joint insurance. Double insurance. Noting. For information about insurance as it relates to commercial property, see Practice note, Property insurance. | Practice notes | Maintained |
| 14 | JCT forms of collateral warranty A note on the JCT Contractor Collateral Warranties, referring to the 2005 editions (incorporating the changes made by the JCT's 2009 Revisions) and the 2011 editions of the collateral warranties in favour of a Funder and a Purchaser or Tenant, known as CWa/FCWa/P&T. | Practice notes | Maintained |
| 15 | Mortgages and charges over land An overview of the law of mortgages and charges over land. | Practice notes | Maintained |
| 16 | SDLT and stamp duty rates (for land) A note on the rates of SDLT on land transactions and the historic rates of stamp duty applicable to transfers of property other than shares. | Practice notes | Maintained |
| 17 | Stamp duty land tax This practice note considers the practical impact of stamp duty land tax in the context of commercial transactions. | Practice notes | Maintained |
| 18 | Taking security over freehold and leasehold property A practice note on the security that can be taken (or arise) over freehold and leasehold property. This includes legal mortgages (also known as legal charges), equitable mortgages, fixed charges and floating charges. As the lender often takes security over property together with security over other assets owned by the borrower, the security interest created over the property may be contained within a gloal security document (commonly referred to as a debenture). | Practice notes | Maintained |
| 19 | UK REITs: questions and answers This practice note sets out answers to some of the key questions on the UK REITs regime. | Practice notes | Maintained |
| 20 | Value added tax Value added tax (VAT) is a tax on supplies of goods and services made by a taxable person in the course or furtherance of a business. It is administered by HM Revenue & Customs. This note covers the VAT position on standard-rated supplies, exempt supplies, zero-rated supplies and supplies that are outside the scope of VAT. | Practice notes | Maintained |