SCS1_2 - Contract incorporating the Standard Conditions of Sale (Fifth Edition - 2018 Revision)

Last EFIS release: 35/2018 (March 2018)

Form status: New/Amended

Pursuant to the information supplied to you on EFIS No. 114/2017 concerning the Law Society's press release dated 15th November 2017, the changes to the definition of a "clearing bank" in condition 1.1.1(b) of SCS have now been agreed between Oyez's representatives on the Joint Working Party 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 13th November.

Conveyancers are now requested to use this 2018 edition of SCS on and after 26th March.

More detailed information regarding these amendments to SCS is available 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

Also, a minor amendment has been made to CON29E which can be used immediately.

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