Payment Clauses & Retention of Title

Payment Clauses & Retention of Title

5 Oct, 2022

This course deals with one of the most important topics found in commercial contracts, namely the payment and transfer of ownership of the goods sold under the agreement.

This module focuses on a cross-border contract for the sale of goods. In our example, the Seller is Italian and a buyer is English. The contract between them will say when the buyer must pay for the goods and the consequences of late payment. Another important aspect of the agreement we will focus on is at what time does the buyer become the legal owner of the goods.

This module also introduces how negotiating parties prepare heads of terms and the use of templates in contract drafting.

At the end of this course in English for lawyers, you will know more about:

  • how parties negotiate a commercial contract and prepare heads of terms
  • the idea of just in time supply chains, credit terms between parties, invoicing and when the time for payment starts
  • the use of contract templates to draw up final agreements between parties
  • calendar days and business days as defined terms in contracts and the legal concept of the term ‘time is of the essence‘
  • the difference between operative provisions and boilerplate clauses
  • interest as a penalty for late payment and how it is calculated
  • the London Interbank Offered Rate (LIBOR) and how it is being phased out
  • preventing any set off in payment clauses
  • termination for late payment and the concept of material breach as opposed to a minor breach
  • retention of title clauses and how they work in insolvency of a buyer
  • the recovery of goods under a retention of title clause and trigger events; role of the receiver
  • key essential legal terms for practising commercial law at an international level

This module is also an excellent base for any international lawyer or law student who plans to take the SQE. Where English is not your first language, this course contains vocabulary, grammar and legal concepts that will help you with your SQE studies.

Course Details

Dates: 2 December 2022

Time: 14:30-18:30 (CET)

Total hours: 4

Live on Line: Sofia Parastatidou (International Lawyer & Author)

Cost: £199 per person (Group Prices; minimum 6 persons)

Individual lessons: Separately quoted.

Course will be taught in English

All participants will receive a Certificate of Attendance

Email: info@britishlawacademy.com for further details or enrolment.