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EFIS 37, March 2018 : Commercial Conditions - Law Society

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Pursuant to the information supplied to you on EFIS No.113/2017 following the Law Society's press notice dated 15th November 2017, the changes to the definition of a "clearing bank" in condition 1.1.1(c) of SCPC have now been agreed between Oyez's representatives on the Joint Working Party (JWP) and their Law Society counterparts.

These amendments have arisen as a result of the Bank of England taking direct delivery of the CHAPS system on 13h November 2017.

Conveyancers are now requested to use this latest version of SCPC on and after 26th March.

More detailed information regarding these changes is available from the Law Society's website at:-

http://www.lawsociety.org.uk/news/stories/revisions-to-standard-conditions-of-sale-and-standard-commercial-property-conditions and in the Law Society's Gazette or online at http://www.lawgazette.co.uk

Forms affected

SCPC1_2 Contract Incorporating the Standard Commercial Property Conditions (Third Edition - 2018 Revision) New/Amended

Crown copyright forms are reproduced with the permission of the Controller of the Stationery Office. Law Society forms are reproduced with the permission of the Law Society. Legal Aid Forms are produced with the permission of the LSC.