Standard terms and conditions of business are one of the most important aspects to consider when starting a new business; however it is often the case that new businesses do not consider them in depth until a dispute arises.
Standard terms and conditions of business if used correctly are incorporated into the transaction and form part of the contract between the parties and it is therefore important that they accurately reflect the company’s procedures and policies to protect the company as far as possible from disputes and claims.
The terms and conditions of business should be specific to each company and can benefit the company by:
- Providing the structure of how the transactions will be dealt on a standard basis
- Providing certainty to the transactions and creating a point of reference for any disputes
- Setting out the requirements which both the company and customer are required to adhere to
- Enabling the company to limit (so far as the law allows) their liability in the transaction
Of course, there are legal limitations as to what can be achieved with standard terms and conditions and you should always have your terms and conditions of business regularly reviewed by an expert to ensure that they are enforceable and take account of any legislative changes.
Ranson Houghton Solicitors can help new companies with their terms and conditions of business and also offer a review service to companies who would like their terms and conditions updated.
Would you like a quote? Contact us here.