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The MCAA implements the OECD’s Standard for Automatic Exchange of Financial Information. It is based on Article 6 of the OECD’s Multilateral Convention on Mutual Administrative Assistance in Tax Matters (Multilateral Convention), which states that two or more parties can mutually agree to exchange information automatically. Even though the MCAA is signed on a multilateral …
This Practice Note examines why parties involved in a construction project may enter into an escrow agreement (or escrow deed) to set up an escrow account. It looks at the benefits of paying funds into escrow, how an escrow account operates and the provisions typically found in an escrow . Get An Introduction to Repo …
The gross lease puts a considerable amount of liability on the landlord. If anything were to happen to the rental, the landlord would be required to front the bill. Additionally, if the tenant(s) decided to excessively use electricity, water, heat, or another utility, the landlord would financially suffer. There are ways landlords can work a …
The Climate Act calls for a 49% reduction in greenhouse gas emissions by 2030, compared to 1990 levels, and a 95% reduction by 2050. The National Climate Agreement contains agreements with the sectors on what they will do to help achieve these climate goals. The participating sectors are: electricity, industry, built environment, traffic and transport, …
The tenant argued that the renewal provision did not reflect the intention of the parties and that the provision should be rectified to reflect the correct intention or, alternatively, that there was a tacit term in the lease agreement that the rental would be reasonable rental which could be established and determined objectively. The tenant …
The facts of the case were that the parties had entered into a lease in relation to petrol station premises in Paarl. The lease started on 1 December 2007 and was to endure for an initial term of five years, with a renewal period of 5 plus 5 years. The rental at commencement was R18,000 …