If you have to take a moment to think about an answer to this question, it is highly likely that your Terms and Conditions (T’s & C’s) could do with a thorough review and update!
Regardless of whether you are selling goods or services, a robust set of terms and conditions is an integral part of business operations. As your business grows and evolves, so to should your terms and conditions in order to keep pace with the introduction of new products or services lines, for example.
Similarly, attention should be given to any amendments to the laws governing the industry segment you operate within.
A clear set of Terms and Conditions may be the difference between winning that next contract, making a big sale……. or not!
Review of Payment Terms
One element of your T & C’s that should them on the top of your ‘’to do’’ list are the payment terms you have included, and in particular whether they are they legally enforceable? Your payment terms will be crucial should you be in the regrettable situation of chasing overdue accounts through the courts, and you need to rely on the wording of your payment terms.
Simply trying to rely on some collation of “standard” t&c’s you found via a google search, or ‘’borrowing’’ them from a competitors documentation is not the best way to safeguard your business! It may instead lead to some undesirable outcomes in respect to enforcement.
If your Terms and Conditions could do with a ‘’make-over’’, please don’t hesitate to contact Havilah Legal and make an appointment for our free initial appointment to see how we can assist.
