Why use business terms and conditions?
Terms of business are the standard terms on which you trade with your customers and suppliers. They are a fundamental tool within your business but probably one of the most neglected areas of your business. If you don’t specify terms and conditions you put your business at risk – it’s vital to establish the actual arrangement between the parties involved. If you don’t you may find that you either don’t get paid or you have to spend time and money taking your clients to court to recover your hard-earned fees.
What is the Purpose of terms and conditions?
Terms and conditions record what you have agreed with your clients. They can be useful in protecting your business from non-payment of fees etc. Among other things your terms and conditions should list:
• What work will you do for the client
• Payment obligations
• Your business procedures
• Termination of contract provisions
• Limits as to your liability
• Data protection
• Dispute resolution provisions
Where should I obtain terms and conditions from?
It is always advisable to instruct a Jersey lawyer to assist you in drawing up terms and conditions suitable for your business and this jurisdiction. Here at Parslows Jersey Business we can work with you to produce suitable terms and conditions for your business and at a fixed price.
Some businesses aim to save costs and will download terms and condition templates from the internet. The internet offers many different templates which may or may not be suitable for your business. The problem is that you will only find out if the downloaded template is suitable for Jersey if and when you get into a dispute with a client.
Do I need my clients to sign the terms and conditions?
It is important to ensure that you have adequate evidence that your client has acknowledged they are bound by your terms and conditions. The safest way to do this is to get them to sign the terms and conditions. This removes ambiguity.
What are the implications of not having effective Terms and Conditions?
In a nutshell not having appropriate terms and conditions can impact your cash-flow through delayed payments and having to pay for materials before taking payments. Late payment is a fact of life for small businesses, as clients often give lower priority to bills from small firms. With the right terms in place, however, you can ensure that you get paid first.
For advice, assistance or further information on terms and conditions or any other Jersey business legal services in Jersey please do not hesitate to call 630530 or email us on email@example.com.