What should I include in my business’s terms and conditions? Corporate & Commercial
What should be included in standard terms depends very much on whether the business sells to consumers, other businesses or to both and also on how sales are conducted, but in essence your terms should set out:
- the duties of both customer and supplier,
- a description of the products or services to be provided,
- payment terms,
- timelines for delivery,
- the duration of the agreement and steps required to terminate it,
- the law which governs the contract.
Some businesses, for example those engaging in online sales to consumers, are obliged to have terms of sale and what must and must not be included in the terms is highly regulated.
No two businesses will have exactly the same order documentation or sales procedures, which is one very good reason why it is important to have terms prepared for and tailored specifically to your own business and not to rely on a set of generic terms or terms originally prepared for another business. It is also wise to revisit and update your terms at regular intervals as circumstances can change.