If you currently do not use Trading Terms, you are leaving your business wide open to problems. Trading Terms govern dealings with your customers to clearly outline any penalties you may apply to overdue accounts, how disputes must be handled, legal notices, representations and warranties. Without correct Trading Terms you have no formal agreement in place which can leave many options open to interpretation and severely impact on costs, viability of debt recovery and litigation.
Reviewing your terms and conditions is important as laws are always subject to change, and these changes may affect your businesses rights, responsibilities, liabilities and options.
Your terms and conditions can be reviewed to give you and your business the flexibility it needs in recovery of debts for breach of contract, or for invoices not paid. Often recovery of assets or monies requires swift action, and well drafted standard trading terms can allow you rights to lodge security interests over property, claim interest from the time the invoice became due and many other industry specific or general protections.
Our qualified and experienced legal practitioners can provide you the security you need in dealing with the public. WE CAN HELP YOU:
- Clearly set out within the terms and conditions what you are and are not going to do;
- Stop directors hiding behind businesses when payment of invoices is due and payable;
- Set reasonable time frames for payment of invoices, and to recover interest from date of non-payment, rather than with court judgement;
- Add conditions regarding interest charged on late payment or a recovery fee charge.
In addition to assisting your business with review of your business terms and conditions, we can also provide advice on your liability and dangers when accepting others trading terms and conditions.
Terms and conditions that do not sufficiently protect you can have potentially uncapped ramifications. Our cost inclusive of GST of $815.00 can save your business from harm, and ensure that accounts payable are paid on time.
- Professional legal advice and a full review of your business risks
- Additional terms added to improve the collection of overdue accounts-charge interest and/or recovery fee
- Provision of comprehensive trading terms in plain English and “easy to read” format
- A complete review of your accounts receivable practices to improve cashflow
- A credit application form, if needed
Contact us now on 1300 799 820 to get started.