The English Commercial Court has now confirmed in two separate decisions that an arbitral tribunal may award a winning claimant its third party funding costs. How significant are these decisions and it is time to rethink the potential reward and risk of international arbitration?
This article considers the label ‘subject to contract’ in English law and two recent English court decisions which consider the effect of this label in different factual circumstances. Parties who are negotiating a contract may use the label ‘subject to contract’ to ensure that they do not enter into a binding agreement before they are ready to do so. This can be particularly important in English law when a binding agreement can be reached (with a few exceptions) without any particular formalities. However, the label is not unassailable and whether it has the required effect will always depend on the circumstances.
We are a leading construction law company specialising in the avoidance and resolution of international construction and engineering disputes, with particular expertise in the FIDIC forms of contract.
Founded and run by Corbett & Co., Cornerstone Seminars addresses the FIDIC international standard forms of contracts.
Corbett & Co International Construction Lawyers Ltd is a limited liability company registered in England and Wales with registered Company No: 6306227. It is authorised and regulated by the Solicitors Regulation Authority (SRA No. 471935). All references on this website to “Corbett & Co.”, or “the company”, should be read as referring to Corbett & Co International Construction Lawyers Ltd. A list of the directors and their qualifications is available under the heading “Our Team” or on request.
© Corbett & Co. 2024
