Terms And Conditions

TERMS  AND  CONDITIONS  OF  BUSINESS

One of the major reasons that clients have difficulty in recovering their debts is because they either have inadequate terms and conditions of business or they in fact fail to have any written terms and conditions of business. 

Although terms and conditions will vary from one business to another and from one industry to another, certain key areas are common to all businesses and need to be addressed in your terms and conditions.  Your terms and conditions should :-

- Ensure that the customer or client’s details are correctly shown.

- Make clear whether you are dealing with an individual, a partnership or a limited company.

- Set out what services or goods you will be supplying.

- Clarify when payment is due.

- Make provisions to protect you if for good reason you are unable to supply the goods or services or only part deliver the goods or services or if faulty goods or inadequate services are provided.

- Ensure that you retain ownership of goods until payment in full is received.

- Make clear any additional charges that may be payable if the customer or client fails to pay in accordance with the payment terms.  In particular the right to claim interest and the right to claim for collection costs and solicitor’s fees should be clearly set out in the terms and conditions.

- Ensure you comply with all statutory requirements.                                    

A well drafted set of terms and conditions will make collection of a debt substantially easier.

At Lee Pomeranc, we have experience in drafting and reviewing terms and conditions of business. Should you wish to discuss your company’s terms and conditions of business, then please contact Michael Lee on 020 8201 6299 or e-mail him at michaellee@leepomeranc.co.uk.

This note is intended to be a brief general guide only and should not be used or relied on as a complete or authoritative source of legal information.