Business terms and conditions are basically the terms of trade or services provided by your company. However, business terms and conditions are contractual agreement between your business and your customers, which enables you to limit your liability and obligations.
Ensure that your business terms and conditions agreement covers a range of issues such as:
Payment terms and price
Warranties and liabilities
Data protection and title retention
Credit limits and periods
Refunds, copyright and acceptable use etc.
As a business owner, your business terms and conditions should be given to each customer prior to each transaction, and they should be provided along with all your invoices or quotations. Unlike some agreements that a signed document is required for prove, in the case of business terms and condition agreement, you don’t necessarily need to ensure that your customers sign a copy of the terms. Because, by making payment or by sending an email accepting your quote serves as an acceptance that your offer (terms and conditions) has been accepted under law by your clients. Thus, a contract has been formed. Therefore, if you do not have a contract or any terms and conditions setting out your trading terms, your business will have to rely on the evidence you have to show that your terms of business is legally incorporated in your contract with your clients. This may prove a difficult task.
I recommend that every business owner should have terms and conditions agreement for their website, invoice and other documents; although it is not required by the law to have this agreement, but this agreement set the rules that users or customers must agree to, in order to use your website or invoice. Terms and conditions agreement prevent abuses, limits liability, sets the governing law, and enables you to own your concept or terminate accounts.
To stay safe at all times, here are some reasons you need terms and conditions for your business:
Coverage of terms: Terms and conditions ensure that nothing is overlooked
Certainty: It proves certainty and evidence when a dispute is filed or when problem arises
Payment terms: This can improve trust on the part of the customer when dealing with you.
Court action: You can avoid any trouble of being taken to court during dispute
Agreement enforcement: It enforces your policies and when a customer has violated or has breached the contract
Law compliance: For reference to existing laws in many jurisdiction and territories.
Customer services: Written contract improves customer satisfaction.
Expectations: It ensures that one avoids any wrong expectations about your business
Protection: It blocks future dispute or complaints
Trust: Written terms and conditions improves your credibility.
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