Your Terms & Conditions – Get them right!
Have you ever wondered what the ramifications of poorly drafted terms and conditions are?
These seem to be one of the most over looked aspects of businesses, yet they are a vital part of your business as they lay out to your consumers and clients the precise terms under which your business operates.
Your terms should ensure that your legal position is fully protected in the event of a dispute arising. Getting it wrong can prove to be very costly.
Common terms should include matters dealing with:
- • the workings of your invoices and when payment is due;
- • what happens when payment is not received on time;
- • set out any obligations of your customers;
- • clearly set out the nature of the service being provided/products being supplied;
- • deal with appropriate time limits;
- • for your benefit they should where appropriate limit your liability towards customers;
and much more.
The dangerous and often costly mistake made by some businesses is that they think their terms and conditions of business can be incorporated into contracts simply by noting them on their invoice. Your terms and conditions need to be incorporated into the contract before you undertake any work, by the time you issue an invoice it is too late to incorporate the terms.
Failing to implement terms and conditions of trade into your contracts and at the appropriate time will have negative effects on your business. Those terms and conditions may end up not having any legal effect on the contracts you entering into with your clients and instead you may end up in a battle over the terms that were agreed which ultimately may have to be determined by the court.
Correctly drafted and incorporated terms and conditions sets your mind at ease knowing that it could save your business a considerable amount of money. It is much more time consuming and expensive to chase non-paying customers or deal with court disputes than it is to have correctly drafted terms and conditions that protect your business.
In summary well drafted terms and conditions are relatively inexpensive and will provide your business with the legal protection you need against any situations that may arise in the course of everyday business.
Freeman Jones commercial solicitors can advise you both on the drafting of your business terms and conditions as well as review any existing one. Call us now to arrange a FREE 30 minute no obligation consultation to discuss any of the above matters further.