Ensuring your business is properly protected by well drafted, water-tight set of terms and conditions unique to itself is the most important legal document to be in place when starting a business and should be reviewed on a regular basis.
Robust terms and conditions are vital for the effective running of any business and are particularly essential for a business that enters into a commercial transaction or provides credit. They should clearly define what is expected by and from each party thereby protecting itself and ensuring excellent and continued customer relations. Many businesses do not appreciate the importance of terms and conditions until they are in immersed in a costly litigation battle.
Well written and comprehensive terms and conditions will minimise overdue accounts, reduce the cost of monitoring payments and significantly diminish the risk of legal disputes and chances of costly litigation to maximize a full recovery of legal costs and improve cash flow through to profit.
Clear terms and conditions will also help you enforce your agreement with the customer by showing them where the contract has been breached. Nothing is hidden including any rights for your customers which will provide them with reassurance as to how you will handle refunds, any credit and the complaints procedure should the need arise.
It is important to remember that in order to rely on your terms and conditions you must give proper notice of them to your customers prior to them placing an order with you for goods or services.
There may be certain regulations that apply to your particular business that will need to be referred to in your terms and conditions for example:
- Fair Trading Acts
- Commonwealth Trade Practices Act 2009
- Privacy Act 1988
- Retention of title
- Returns and defects
- Recovery of Collection costs, and interest
- Specialist commercial litigation services
It is imperative that a commercial contract lawyer prepares the terms and conditions. Most business owners will consider aspects such as payment terms, price etc but will not necessarily take into account matters such as limiting your liability, disclaiming your liability for failure or delay caused by force majeure, protection of your Intellectual Property rights, passing of title and risk.
At Stripes Debt Recovery, we take the time to understand what your business does and needs, its processes and typical customers. The more we understand your business, the more we can do to protect your business interests by tailoring the agreement with your customers.
Please call us today to find out how we can help your business on 0161 832 5000. You can also use the form below.
You can issue your instructions including any supporting documentation by using the “Get Started” buttons on the relative debt recovery option page or if you prefer, via email, post or fax: