Terms and Conditions
All businesses need terms and conditions.
We understand that starting or running a business is about balancing your priorities. It is easy to be swept away with the marketing, manufacturing and services to get the finances flowing, and business owners often neglect the small print side of things.
Operating a business without terms is like driving a car without insurance – if you take a hit, you sustain more damage than is necessary. Though it’s a pleasant notion that your customers will pay what they owe, the reality is that your cash flow can be seriously impacted when invoices aren’t paid on time.
This is one of the benefits of implementing terms and conditions for your business. Your terms should define exactly what you are providing to your customers,
and how they will pay you for the same. Each party’s obligations are clearly outlined, as are the consequences of not fulfilling the same. For example, properly drafted terms can stipulate that if you are not paid on time, you can recover not only what you’re owed but what it may cost you to recover it.
Without speaking to a business lawyer, your terms of trade are unlikely to be a perfect fit for your business. Business owners have a bad habit of adopting the terms of similar businesses, or (terrifyingly) using general terms they have found online.
Having a lawyer customise your terms and conditions is the safest and most expedient way to gain documents which suit your business practices. By speaking to one of our friendly business experts, we can help you understand what areas of your work are most vulnerable and how you can best protect your cash flow, goods, and reputation.
Not only can properly drafted terms stipulate what and when you are paid, they can also govern the risk and ownership of the goods and/or services, specify any relevant warranties, limit your liabilities, define variations, and even guide disputes or termination.
If cash flow is vital to the success of your business, give Websters Lawyers a call today. We would be delighted to discuss your individual needs and provide you with a quote for tailored, straightforward terms and conditions to help your business thrive and grow.