Whether you have owned your business for generations or for a short time the decision to sell isn’t always easy. Once a decision is reached, your thoughts will turn to...
Business Terms and Conditions
Business Terms and Conditions are essentially your terms of trade. They are a contract between you and your customers, the rules upon which you do business and are crucial to protect your business.
A well drafted set of terms and conditions will put you in control of your business relationships and set out the basis upon which you will deal with your customers. Good business terms and conditions should clearly set out your obligations and those of yours customers, they will limit your liability and provide clarity and certainty. They should help minimise problems and encourage prompt payment. By covering even minor issues, they can potentially save you thousands and help make your business and cash flow healthy. Business terms and conditions cover issues such as:-
- Product delivery
- Payment terms
- Credit limits
- The right to charge interest
This is not an exhaustive list and one size does not fit all. It is important to have your terms and conditions professionally drafted so that they are tailored to the individual requirements of your business.
If you would like to get in touch with our specialist commercial law team, you can contact us here.
You might also like to read our article on Forming a Company.
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