Terms of Business
A Business should ensure that its terms are incorporated into its contracts. This offers protection to the business and ensures the terms and conditions were supplied before a contract has been created. Terms and conditions should be provided to a potential buyer (or seller as the case may be) as early on in proceedings as possible. The terms should also be available on your website and in any quotations of correspondence you may send out to potential or existing clients.
Why have Terms of Business?
A Business that does not put its terms and conditions at the forefront of its trading activities risks that it will not be able to rely upon those terms should a dispute arise. The protection of the clauses within the terms and conditions may be lost.
Use of standard terms and conditions remove the need to negotiate all of the contractual terms on every occasion so substantial savings in terms of time and drafting costs can be made. Well-drafted standard terms provide businesses with contractual rights that do not exist as a matter of general law. Two examples are retention of title clauses (allowing a seller to take back goods in the event of a buyer’s failure to pay) or clauses that limit liability for breach of contract.
Standard terms need to be, kept up to date and reflect changes to working practices and from the legislative landscape. Understanding what standard terms should be included and the issues that impact upon their validity and incorporation are where rhw come in. We can ensure your Business is protected and you are perform at 100% efficiency with clients you want to keep and those you need to take action against should they fail to make payment or keep to your terms of business.