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Limitation of Funds Clause Puts Bite in Termination Recovery

Client Alert | less than 1 min read | 12.30.13

In The Boeing Co. (Dec. 3, 2013), the Armed Services Board of Contract Appeals served a reminder of the risks Limitation of Funds (LOF) clauses pose for contractors, who normally must assure that funding on their contracts will be adequate not only for work underway but also for recovery of prime and subcontract costs in the event of a termination for convenience. The Board refused to allow recovery of costs incurred in excess of the funded amounts, holding that, if the contractor incurred costs in excess of the allotted funding, "it was a volunteer and did so for its own account."


Insights

Client Alert | 7 min read | 10.22.26

Africa, MENA, and the Arbitration Act 2025: LCIA’s Latest Report

The LCIA's 2025 Annual Casework Report contains a finding that should command the attention of any business with commercial exposure to Africa or the Middle East. Participation from the Middle East and North Africa (MENA) rose to almost 15% of the LCIA's caseload in 2025, and the UAE alone is now the third most represented jurisdiction globally, overtaking every non-Anglophone jurisdiction in the world.[1] That shift did not happen in isolation. It coincided with the entry into force of the Arbitration Act 2025 (the 2025 Act) — the most significant reform of English arbitration law in a generation — and a dramatic surge in parties deploying the LCIA's procedural toolkit more aggressively than ever before.[2]...