Standard Terms of Business
Most businesses use standard terms of business, usually terms and conditions for the sale of goods or for the supply of services. For many businesses, therefore, this will be the most important commercial contract document that they ever invest in. Get it wrong and a business may find itself unable to repossess unpaid for goods when its customer becomes insolvent or may find itself exposed to unlimited liabilities in the event of late supply or the supply of defective products. For these reasons we take standard terms of business very seriously.
There is no such thing as a set of terms of business which will meet the requirements of all businesses. We therefore spend time understanding our clients’ businesses and drafting terms appropriate for their businesses. We will, where required, work with clients’ insurance brokers to provide a holistic approach to clients’ risk management.
On many occasions we see standard terms of business fail because they have simply not been incorporated into the contract between the parties. We will therefore spend time with our clients (and provide training if necessary) to ensure that their terms of business are properly incorporated into contracts with their customers or suppliers. We also recommend that our clients do not just have standard terms and conditions for the sale of their goods or services but also use standard terms and conditions for the purchase of goods and services.
Key Contacts - Standard Terms of Business
Please click on the links below to find out more about the key lawyers in our Contracts & Commercial team