The terms and conditions used by a business could be said to form the cornerstone of its supply, as they create the basis upon which its contracts are formed.
The advantages of standard terms and conditions are well known to most businesses. By removing the need to negotiate all of the contractual terms, substantial savings in transaction costs can be achieved. In addition, well drafted standard terms provide businesses with contractual rights that do not exist as a matter of general law. Typical examples are retention of title clauses (allowing a seller to take back goods in the event of a buyer's failure to pay) or clauses that limit liability for breach of contract.
It is because standard terms and conditions are often of crucial importance when things go wrong that those involved in selling goods and services need a clear understanding of the importance of their business's contract terms, and the potential consequences if they cannot be relied upon.
A business should ensure that its terms are incorporated into its contracts. To achieve this, terms and conditions should be provided with and/or referred to in pre contractual documentation, such as quotations and orders. A business that relies upon printing their terms on delivery notes or invoices (post contractual documentation) runs the risk that it will not be able to rely upon those terms should a dispute arise.
A well drafted set of terms and conditions will take into account the manner in which a business operates, and what it hopes to achieve. We will take the time to understand your business to ensure that your contracts achieve what you want them to.
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