Sentences with phrase «on penalty clauses»

Not exact matches

Clause 95 of the Finance Bill 2017 provides for a new penalty which will apply to anyone found to have claimed input tax on a transaction which they «knew or should have known» was connected with a VAT fraud (the input tax claim thus being bad in law).

The penalty clauses usually provide an interest penalty on top of already existing rates.

The effect of compounding on bills can even be greater if the agreement between you and the lender carries added penalties or other clauses.

The majority of the Supreme Court held that the new test to determine penalty clauses is whether the impugned provision is a secondary obligation which imposes a detriment on the contract - breaker out of all proportion to any legitimate interest of the innocent party in the enforcement of the primary obligation.1

Clause 10 of the earlier version prohibited victims from using a solicitor to help them fill out or submit the claim form or to take any active role at the crucial initial stages of the claim on penalty of the entire claim being rejected outright.

The ability to manage your contracts through a process such as this will allow you to leverage the knowledge in your existing contracts, report on the extracted data, even recover hidden revenue (e.g. by policing penalty clauses in your supplier agreements) and comply with current and upcoming regulations.

The court unanimously agreed, based on a 1976 Supreme Court decision, that the reasonableness of the monetary amount, i.e., whether the lump sum payments set out in the clause amounted to a genuine estimate of anticipated damages or a penalty, was only relevant to the issue of damages; it was not relevant to the reasonableness of the clause itself.

Perform a gap or risk analysis on damages, indemnifications and other contract penalty clauses

Every lease I have ever seen (and most of the free template lease forms on the web have) had a clause stating that making unauthorized changes to the property is not permitted, along with the possible penalties, like paying for the damages, losing a deposit, even eviction.

Depending on your business owners policy and insurance company, you might have a co-insurance penalty clause.

After the house was sold (and she couldn't put liens on the house), I sent her a bill for the work that had to be done and the 88 days that she was late (the penalty clause).