The Code for Leasing Business Premises in England and Wales 2007 is the result of collaboration between commercial property professionals and industry bodies representing both owners (Landlords) and occupiers (Tenants).
The Code aims to promote fairness in commercial leases, and recognises a need to increase awareness of property issues, especially among small businesses, ensuring that occupiers [...]
Enterprise Finance Guarantee for Business Owners
As a small to medium-sized enterprise, you may have viable business plans that need funding and for which a loan would be appropriate. However, you may be struggling to access the finance or working capital required because of the additional risks arising from the economic downturn. The newly announced Enterprise Finance [...]
What should you think about when buying a “bust” business from an administrator?
1. Look out for opportunities to buy businesses in distress. These could be competitors, suppliers or businesses that add value to your existing client base.
2. If a deal comes your way, you will have to be very focused on making it work rather [...]
Period/term. Fixed, rolling with notice, or a combination. Are you happy if the other party puts in an option to extend for a further period without your say so? Or that they could terminate early?
A supplier should have a limitation of liability clause, to minimise the categories (e.g. loss of profits, loss of business, loss [...]
As a tenant this is not always as easy as you may think. A lease is a legal contract, and your landlord can take you to court if you break it. But depending on the circumstances, your landlord may be prepared to negotiate a compromise.
Surrender, Assignment or Underlease
There are two ways to get out of a [...]
Paying cash for an asset can be a significant drain on your working capital. Leasing the asset, however, gives you access to the asset without paying for it all at once.
All forms of leasing are basically rental agreements giving you (the lessee) the right to use an asset owned by the lessor (finance company) for [...]
Be sure to have actually READ your contract before signing. Keep in mind that once you have signed, you are entering into a legally binding contractual relationship with the other party. There isn’t usally a cooling off period – particularly if you are a business rather than a consumer.
Here are a few things to watch for – [...]
Did you get that sinking feeling when you turned on the breakfast TV news on Monday morning? Were you tempted to pull up the duvet and just stay in bed…? NO, I didn’t think you were the type.
Truelegal has a great client base of enthusiastic entrepreneurs, individuals ready and willing to react to the market place. [...]
A service level agreement is ideal if you engage a company or individual to provide a service for your company which is of significant importance to you. For example, when your supplier’s services are critical to you meeting your customer’s requirements.
A service level agreement defines the service they must provide, the level of service to [...]
A joint venture agreement is suitable for two or more businesses wishing to come together for a specific project for a specific length of time but who do not wish to be bound together indefinitely. For those wanting to work with someone on a more long term basis then a partnership agreement may be more [...]
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