Nine out of ten small and medium-sized enterprises (SMEs) say they would quickly go out of business if they didn’t have access to an overdraft, according to a recent survey. The commercial finance group, ABN AMRO, questioned 250 SME owners, managers and finance officers. The survey revealed that 89% said that their firm wouldn’t last
Businesses will soon be able to use a new 90-day premium service when applying for patents. There will also be a faster trademarks service which will provide a full examination report in five days instead of the current 10 days. The changes, which will be introduced by the Intellectual Property Office (IPO), were announced in
There’s to be a new Groceries Code Adjudicator with increased powers to protect supermarket suppliers from unfair practices. The adjudicator will be responsible for enforcing the Groceries Code, which was put in place by the Competition Commission in 2008. It applies to the 10 retailers with a turnover in the groceries market in excess of
Overview A Settlement Agreement is a legally binding contract that is used to settle employment disputes. They can also be called Termination Agreements or Compromise Agreements. In return for receiving a sum of money and/or benefits the employee or ex employee agrees not to pursue claims against the employer. A Settlement Agreement is designed to
We regularly advise employees on settlement and compromise agreements. This service is available from our Luton and Berkhamsted offices. Appointments can also be offered in Hemel Hempstead. Further information on our service and answers to some frequently asked questions can be found here.
A bus company has lost its appeal against an employment tribunal ruling that its 12-month contract with a local authority should not be subject to the TUPE Regulations 2006 (TUPE). The company, Liddell’s Coaches, had five 12-month contracts to transport children to different locations while their school was being rebuilt. It lost four of the
The UK has experienced a boom in the birth rate recently and this has led to many employers having to navigate through the complex law of considering making members of their workforce redundant, some of whom may be pregnant or on maternity leave, during a tough economic climate. In employment law, a woman has a
The Court of Appeal has imposed the maximum penalty possible on a landlord who failed to comply fully with the requirements of the Tenancy Deposit Scheme (TDS). The issue arose after the landlord took action against a tenant for rent arrears. The tenant brought a counterclaim denying rent arrears and seeking repayment of the deposit.
Figures released by the credit reference agency, Experian, show that companies in the UK paid their bills 1.3 days earlier in the third quarter of 2012 than they did during the same period in 2011. Experian’s late payment index shows that between July and September this year, companies took 24.88 days beyond the agreed terms
When drawing up contracts of sale across different countries it is essential to specify in advance the currency and exchange rate to be used. Confusion over these issues can prove costly, as one firm discovered in a recent case before the Court of Appeal. The case involved the sale of various goods together with industrial