Terms of Business – why should you care?
Whether a business sells goods and/or services to its customers or clients, the business should ensure they have clear terms of business in place governing the sale and provision of such goods and/or services to its customers/clients.
Terms of Business can vary in length enormously and are very much dependent on the goods and/or services to be provided and whether the parties are business to business (B2B) or business to consumer (B2C).
In summary Terms of Business set out the basics of your relationship with your client. They state your obligations to each other and must be effectively incorporated into your relationship.
As we all know some Terms of Business are clearly better than others. The better ones will have dealt with a number of key considerations – to give you an idea of what these are please see our one-page infographic here https://www.cripps.co.uk/wp-content/uploads/2019/01/Infographic-Terms-of-Business-Key-Considerations-FINAL-18941893v1….pdf.
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