Standard terms and conditions of business are one of the first things a company when starting up should put in place. They are the backbone of any good business. Unfortunately, they are often missed or not given priority until a dispute arises. Clearly by then it may be too late. Speak to your commercial solicitor at the outset of your business to help you get these put in place.
The advantages of standard terms and conditions are:
- They avoid the time and expense of drawing up specific terms for each individual transaction.
- They help to create certainty as to the agreement that has been reached between the parties on all the important issues and not only those issues that are obvious to the parties.
- They are a risk minimisation tool: they can prevent disputes arising and matters getting out of control. They can stop your company being sued.
- They enable a company to introduce terms favourable to itself for example, terms limiting the supplier’s liability (in the case of terms of sale) or extending the supplier’s liability (in the case of terms of purchase).
- They provide certainty that the company will be trading on broadly consistent terms with all its customers
- They allow a company to standardise its contracting procedures, and for contracts to be handled and concluded by more junior staff.
- They allow you to provide professional customer services so customers are happy.
Speak to a solicitor who specialises in terms and conditions today to help you further. With our in-depth expertise and knowledge of contracts we are well placed to be able to assist you. We are commercial solicitors who bring value add to make a positive contribution to our client’s business.
