Terms & Conditions of Sale are often overlooked and need reviewing.

New laws and legislation are passed frequently and if your Terms do not reflect the changes, you could end up losing out - even something as simple as not updating your Late Payment Interest Charges in line with current rates could leave you out of pocket!!

SME PROTECT work with solicitors to offer a professional service in reviewing and updating your Terms & Conditions of Sale.

Many of the following problems arise because the law is constantly changing.  If your terms were drafted more than 2 or 3 years ago, they will have been overtaken by developments in contract law.

1. Making contracts where the terms of your deal are not set out in writing
   (having no Terms and Conditions at all, or terms which occupy a few lines)
2. Not being able to reclaim your goods if your customer does not pay
   (an unenforceable Retention of Title Clause)
3. Having unlimited liability for breaches of contract and negligence, or being prosecuted
   (void or illegal liability exclusion or limitation clauses)
4. Having Terms and Conditions which you cannot rely on in court
   (incorrect order handling and documentation means your Terms may not even apply to sales)
5. Not being able to reclaim your goods if your customer does not pay for all outstanding debts
   (a Retention of Title Clause which is not an “All Monies Clause")
6. Having terms which could be challenged by the Office Of Fair Trading
   (terms used for sales to consumers, which are not written in plain English or are potentially unfair to consumers)
7. Missing out on higher interest on late payments, or not being able to claim any at all
   (imposing an interest rate which is too high so as to be unreasonable & unenforceable, or not as high as it could be under legislation)
8. Getting your customer to pay a contribution towards the legal costs you have incurred recovering a debt owed by the customer
   (the absence of a clause under which you can actually recover the cost of collecting unpaid invoices)
9. Terms and Conditions which fall apart when something goes wrong(missing “boilerplate” clauses which contain the legal mechanics all contracts should have)
10. Wasting precious credit control time arguing when payment was due
    (unclear & undefined payment terms)

For more information on implementing, updating and enforcing Terms & Conditions of Sale, simply contact us today.