If you are an owner of a business, whether an expansive multinational company or the sole owner of the business, you must have a standard set of terms and conditions as a foundation of the business. The purpose of terms and conditions is to set out the contract terms between the business and its customers. Formulating Terms and Conditions and having your clients agree to them is designed to limit liabilities and protect your rights.
A business supplies services and goods which are based on both verbal and formal agreements, but even if a contract is verbal, it can still be binding. A contract does not necessarily need to be in writing. Usually, oral contracts can be risky, especially if large sums are involved. The issue with a verbal contract is proving it exists. In contrast, if there is a written contract involved and it is clearly set out in writing, there is less chance of experiencing a dispute.
Your Terms and Conditions should include:
- Details of what services and goods should be provided. Information about the products and services that will be supplied.
- Details about delivery arrangements- where or when the goods are to be delivered or the services provided. What are the service amendments when there is a delay, and who pays for the cost of delivery?
- The terms of payment- Often, the key form when is the individual going to be paid and how much? Is the payment going to be in regular instalments, whether it is monthly or at the end of the job?
- The pricing involved in the sale of goods
- Credit periods and credit terms
- Data protection clauses
- What is the policy if any of the products are faulty or if the service is not completed or is substandard? Who pays for it, and what litigation, if any, products need to be returned?
- Information about any interest charged on any late payments
- Any variations in the contract. Sometimes parties can agree to vary the legal obligations within a contract at any time with the agreement of both parties.
If there is a termination clause. In the instance that there is an ongoing provision of goods and services, in situations as specific as a one-off supply, it is highly important to have a well-drafted termination clause. You will ideally want a clear way out of the contract if the other side has breached the agreement. You also need to clearly set up the circumstances of what constitutes a breach of the contract that you have in place.
Bookers & Bolton Solicitors, commercial law specialists based in Alton, Hampshire, have the knowledge and experience to ensure you fully understand how to use the law to protect your interests. We are on hand to offer you a cost-effective and high-quality service to help you achieve a solution that is right for you.
Our commercial solicitors provide you with a range of services, including but not limited to the following areas:
– Commercial Contracts and Agreements (link)
– Shareholders Agreements (link)
– Partnerships and LLPs (link)
– Terms and Conditions(link)
Our solicitors will work closely with you, resulting in the best solution when approaching any business challenge you may face. We strive to resolve these issues as stress-free and quickly as possible, with minimum disruption to the structure of your business and future operations.
Our commercial law solicitors do all they can to guide you through any issues you may face. We are a running business ourselves, and we completely understand and appreciate any commercial pressures and issues you may encounter. Our dedicated solicitors have built a reputable portfolio of the successful services that we have provided to our clients across Hampshire and the South. We are committed to building on that reputation.
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