Why your business needs good terms and conditions

Entrepreneurs are often so busy setting up and running their businesses that they have little time to think about the legal aspect of it.

Does your business have a set of terms and conditions in place, and if so, when was the last time these were reviewed?

The Essentials

1. Good customer service

Businesses who strive for good customer service can also set out customer rights. This provides customers with reassurance; it reminds them of your obligations and how you will deal with complaints and refunds (amongst other things).

2. Protection and certainty

3. Enforcing your agreement/rights

4. Helping with cash flow

5. Limiting liability and other important matters

6. Comply with law

Do your terms need updating?

• What are the key commercial terms you are offering your customers?
• What could possibly go wrong (think about the most awkward customer possible)?
• What are the different distribution channels used by the business and are the terms appropriate in all circumstances?
• What has changed in the business since your terms were drafted?