For any business, whether a partnership, private or public company, or even as a sole trader, the terms and conditions of business are a pivotal document that, if drafted correctly, can help:
- increase profits;
- reduce disputes; and
- protect against costly misunderstandings of obligations.
It is a misconception that terms and conditions are just for those moments when things ‘go wrong’. A well drafted set of terms will provide clarity and transparency, and act as a guide in providing consistent services whilst giving additional comfort to the contracting party that the goods or services being supplied will be delivered promptly, professionally and in line with their expectations.
At Bishop & Sewell we provide a modern perspective on how terms and conditions of business are utilised and delivered to customers or suppliers.
Each industry is different, and each business will have its own specific preferences and specific audiences which will need to be catered for; our team will take the time not just to get to know you, but also your business in order to prepare a bespoke set of terms and conditions for meeting the needs and objectives of your business.
Some examples where a different approach may need to be taken include:
‘start-ups’ often having budgetary concerns which more established businesses do not – our team are sensitive to this and will try to help find a solution which is both suitable and achievable for your business no matter which age it is;
You have branched into a new field, service or product, and your old terms of business may no longer be fit for purpose; or
Perhaps your business model is one which operates on a Master Service Agreement which is subject to an annual review – or should be.
These are just some of the examples of where our experienced team can help.
As your business grows and adapts, so should your terms and conditions to meet your businesses needs and required protections.
Whether you are simply adopting your first terms of business, adapting your current set to take into account changes in the law, or simply undertaking your cyclical review, Bishop & Sewell are available to assist.
How often should I review my terms of business?
This will be dependent on your business needs, for some businesses it may be every 12 months, some every 24 months, and others every contract. If you are not seeking to have a periodic review, be aware of different occurences during your day-to-day transactions which may help tailor your terms of business more specifically to your needs.
How do I incorporate my terms of business?
In the absence of them being formally signed, there may be ways to incorporate them into estimates and correspondence, but beware in case the other party are doing the same with their own terms and conditions.
Contact our Solicitors
Whether you are looking to recover money, goods, compel a party to comply with a contractual obligation, defend against allegations of breach of contract, or are seeking to extract yourself from a contract you now cannot comply with, Bishop & Sewell have a team of lawyers able to advise you on the options which are available to you.