Terms and Conditions of Business

The bits of Free Advice are:

If you haven’t got any Terms and Conditions you need some, now, before you get sued not just for defective goods or services but for something called ‘consequential loss’
Did you know that without protection in your T & Cs consequential loss claims could financially wipe out your business?
So, you need the right document producing and using
If you have got Terms and Conditions they will probably say something about you excluding or limiting your liability if things go wrong and it’s your fault.
Did you know if they say you exclude any liability for any breach of contract there is a fair chance they will not stand up in court?
So, you need the right content in your T & Cs
In your current Terms and Conditions it should say how much interest you will charge on overdue debts. If it does, the figure is usually something like 2 or 3 % over base.
Did you know that with the right wording you can actually stipulate over 12% and enforce that figure?
So, you need the right content in your T & Cs
If you have got T&Cs they are probably printed on the back of invoices or letterhead.
Did you know there is a fair chance that they will not be enforceable as part of the contract with your customer?
So, you ( and your staff) need to know how to make sure your T & Cs apply to contracts with customers

So, the real free advice is to get T&Cs and get the right ones before it’s too late!