When starting a business, it might be tempting to use generic Terms and Conditions (T&C’s) or borrow them from another business. This may seem like a good way to save time and money, but often, you will run into issues later down the track.These “second hand” T&C’s may not address the unique needs of your business. These documents often lack legal expertise and relevance to your specific business. The T&C’s for a shipping company will differ greatly from the T&C’s for a restaurant and using the wrong T&C’s will lead to complications.Neglecting to specify terms can have a major impact on your cash flow and business relationships. Without clear specifications, misunderstandings may arise where customers anticipate paying at the end of service while you expected payment at the beginning. Clear and specific T&C’s can prevent issues like this arising.Customised T&C’s will include a range of terms that help your business to operate efficiently and effectively. As well as this, well drafted T&C’s can mitigate your liability and minimise expenses relating to debt collection or further legal action. Our team of experienced Corporate & Commercial lawyers can assist with drafting tailored T&C’s that provide you and your business with the security to do what you do best.It would be both prudent and beneficial engaging a lawyer to draft your T&C’s. If you are in the early stages of your business or would like us to take a look at your business’ current T&C’s, please get in touch with one of our Business & Commercial team.
