Where businesses are entering into the same type of contract repeatedly they can save time and money by having a standard form document that is legally up to date and fir for purpose that they are happy with as a starting point.
Businesses should ask themselves whether they are comfortable that their standard documents (terms and conditions, supply agreements etc.) are in good shape. Do you have a nagging doubt that your terms aren’t up to scratch or, worse, do you trade on the terms offered by your suppliers or customers? If so, contacting us may give you peace of mind and a real commercial advantage.
Some businesses may prefer to wait until they have an actual transaction requiring a contract before addressing this issue. This is certainly an option and many businesses adopt this approach. However, time pressures are often greater in this context and it is likely that some contractual documentation will be exchanged at an early stage in negotiations. It can then be difficult to depart substantially from the position set out in this early documentation. It is more likely that you will get what you want if you have clear documentation to share at an early stage in the process reflecting your preferred position. Our advice is to review your documentation as soon as possible and not wait until you have the additional pressure of a negotiation process to contend with.
Standard documents which businesses should consider putting in place include:
- Terms and conditions of sale
- Terms and conditions of purchase
- Online terms and conditions
- Reseller/distribution agreements
- ICT agreements
- Agency agreements
The work we do on standard terms of business ties closely with our approach to good governance and corporate structuring.