• National Conditions Of Sale

    By Guest on 15th Jul 2016

    The contact I am using may be out of date so I need to know about the following clause: 'National Conditions of Sale (current edition) shall apply to this contract, and the prescribed rate of interest shall be 4% above Barclays Bank base rate'. Have any of these conditions changed? If so, how? What should the wording now be?
    Thank you
    Chjristine

  • 1 Answers

    By Guest on 17/07/2016

    The current edition is the standard conditions of sale 5th edition. The clause means that the contract is subject to the 5th edition. As for the interest rate, this is the same as the Law Society rate (which is 4% above the Bank of England base rate but the main banks tend to have the same base rate as the Bank of England)

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