CONTRACT TERMS & CONDITIONS
So, your business has got a product or a service to sell. Wouldn’t it be great if your business and your customer know exactly what they are getting and under what terms?
The value of a well written contract should not be understated. It will provide clarity and protection to all parties.
What particulars should a contract for the supply of goods cover?
Here are just a few considerations from the seller’s point of view:
• The product or service will have a clear specification.
• It will give detail on the quantities to be supplied and the price.
• It should deal with the buyers right to reject the goods and in what circumstances.
• There should be a procedure for rejecting goods.
• The time and place for delivery should be clear.
• At what point in the transaction does risk and title transfer to the buyer?
• Who will be responsible for damage to goods in transit?
• What happens to goods that are not delivered?
• Does the seller want to include a provision to vary the price throughout the course of the agreement?
• Does the price in the contract include VAT or other taxes and duties?
• Who is responsible insuring the goods and is that cost included I the price?
• Are packaging costs included in the price or are they extra?
• Who pays for delivery and off-loading?
Here are just a few considerations from the buyer’s point of view:
• Will the price be inclusive of extra items?
• Time for payment
• Documentation needed by the buyer before payment is made
• What will the default interest rate be?
• If the seller requires security for payment, what form will this take?
• Termination clauses
• Risks and Insurance
What Standard Terms should be Included?
The standard terms should incorporate the following basic particulars:
• Alternative dispute resolution
• Covid Clause
• Entire agreement
• Force majeure
• Late payment clauses
• Returns and Cancellation policies
• Severance and illegality
• Third party rights
Why choose Kumari Hart Solicitors?
We have the expertise to draft robust documentation for any commercial agreement. We also litigate on many types of contracts where things have gone wrong, so understand how poor drafting can affect a business.
In preparing such contracts we will work in collaboration with you to identify any specific areas that require in depth consideration, beyond the standard type of contract
All initial enquiries are completely free of charge, so please do not hesitate to call us on: 02477 981545
We can provide a number of funding solutions including a fixed fee quotation and payment by instalments.