Drafting Business Terms And Conditions
Altion Law has an expert team of solicitors who specialise in advising, drafting and reviewing terms and conditions of business.
Most businesses understand the importance of commercial contracts but many make errors in using a standard template or even copying a competitor’s terms and conditions. It is important for terms of trading to be drafted to take account of the specific conditions in which you do business. Poorly drafted terms and conditions can delay recovering cash for your business.
Once a business has standard terms and conditions, these require regular review in order to ensure that they take account of legislative changes or new case law as well as reflecting any changes in the business activities of the company. Failing to update or maintain a business terms and conditions can lead to disputes and delays in being able to resolving these.
An Example Of What Altion Law Would Review Or Include In Your Terms And Conditions May Include:
- Preliminary review of contract terms and procedures
- Incorporation and battle of the forms
- Renewal terms and cancellation periods
- Excluding liability
- Warranties, guarantees and indemnities offered
- Specification of what products or services will be provided
- Delivery terms – how and when and if time be of the essence
- Price – standard, discounts for early settlement or bulk purchase
- Payment terms – credit offered, interest and penalties on late payments, how payments be made.
- Security for payment
- Retention of title; risk and insurance
- Governing law in the event of a dispute.
This list is by no means exhaustive, but it provides you an idea of how detailed the terms and conditions may need to be.
If you haven’t specified your terms and conditions you are at risk – it’s vital to establish the actual arrangement between the two parties involved in any deal. Altion Law can assist you with providing Terms and Conditions that are suitable and appropriate for your business.
Altion Law can assist parties who require assistance with drafting or updating their business terms and conditions. If you would like to have a confidential discussion with a member of our team, please complete our Contact Us Form, and we will call you back at a time that is suitable for you or you can contact us directly on 01908 414990.