Terms & conditions of trade

At Stephensons we can advise upon both the content and drafting of your business’ terms and conditions. Our dedicated specialists have the expertise to advise you on all legal matters affecting terms and conditions and the formation of contracts. We also recognise the key commercial risks that affect your business and will tailor the terms and conditions necessary to protect it.

In any economic climate it is vital for businesses to make sure that they get paid for the goods or services that they provided to their customers as even one bad debt could condemn a business to failure.

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Standard terms & conditions

Correctly drafted and incorporated terms and conditions of trade allow businesses the peace of mind to know that they understand all the terms under which they do business. Standard terms and conditions of trade will, amongst other things, clearly set out:

  • The price
  • When and how payment is to be made
  • When a product/service is to be delivered/performed
  • What the options are to a business when payment is not received
  • How a business may limit their liability under a particular contract

Many businesses who do have terms and conditions of trade often fail to properly incorporate them into their contracts with their customers. The effect of failing to properly incorporate the terms and conditions into contracts is that those terms and conditions may not have any legal effect on the business’ contracts.

Having correctly drafted and incorporated terms and conditions will save businesses considerable expenses in the long run as it is much more expensive and time consuming to take legal action against non paying customers or deal with other disputes through the courts than it is to have the correct terms and conditions prepared and incorporated at the outset of your business.

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