Else Solicitors, have outlined the benefits of terms and conditions of business (T&Cs).
Many decision makers view T&Cs as an expensive, time-consuming, and unnecessary task. But they’re not.
T&Cs are a huge advantage to companies. Our Corporate & Commercial team have come up with a list of benefits of T&Cs and how to enforce them.
Commercial Solicitors Tip 1#: T&Cs Protect Your Businesses Interests
T&Cs can protect you from expensive and time-consuming disputes over ownerships of goods and money. And, they can help you to manage disputes if they do occur.
They also make your customers aware of your policies and procedures, performance standards, and late payment consequences. They can limit your liability too.
Commercial Solicitors Tip 2#: T&Cs Are Affordable
It is a common misconception among many decision makers that T&Cs are expensive. This is wrong.
You can find out about Else Solicitors’s T&Cs services for FREE. Call our Corporate & Commercial team for a consultation about T&Cs. They will explain the drafting process and outline the potential costs. You will be under no obligation.
Standard T&Cs of business usually cost around £500 to £700. Imagine you are working on a lucrative contract, worth thousands, and you lose out because you we not protected by strong T&Cs. You can see what a worthwhile investment that £500 would have been.
T&Cs don’t just protect you for one lucrative deal. They can be drafted so they are applicable on all your contracts.
Commercial Solicitors Tip 3#: T&Cs Could Earn You Money
At some point every business will need to recover debts from their customers. Debt recovery can be a costly and time-consuming legal process, but it doesn’t have to be.
Good T&Cs will make sure that your debtor will be liable for any legal cost incurred as part of the debt recovery. What’s more they can enable you to claim late payment interest from your debtor.
This means that you are recovering debts for FREE and being fairly compensated for late payments.
Commercial Solicitors Tip 4#: How To Get Clients To Agree To Your T&Cs
If Else Solicitors have drafted your T&Cs, please feel free to contact us while you are negotiating a new contract with a customer. We will be happy to advise about getting your client to agree to your T&Cs.
In the legal trade we call contract negotiations ‘Battle Of The Forms’ because both parties want their T&Cs to be the terms that are agreed.
At this stage in an agreement there can be a lot of conversations and many papers can be signed. Always be aware that it is the LAST correspondence of terms that applies.
We advise our clients to go and visit their customer if they are negotiating a particularly big deal to ensure their terms are agreed to. This tends to accelerate the negotiations process. It also ensures that the person agreeing to the terms is the right decision maker and not the tea boy.
If you would like more information about T&Cs from our team of commercial solicitors in Burton on Trent please call 01283 526200. Alternatively, you can send us a message and we will get in touch at a time that suits you.