Terms and Conditions of Sale – why are they important?
Increasingly gone are the days when you can just do a deal on a handshake. A litigation aware customer base, regulatory requirements, and good customer care, calls for the need to have agreements recorded in writing.
Generally speaking, terms and conditions set out the basis on which the parties are going to contract, what is being supplied, when and for how much, and importantly what the parties remedies would be if things go wrong.
It is important to ensure that terms and conditions are regularly reviewed – at least once a year and certainly whenever you change how you do business – move online, use different delivery methods, change the way you take orders or change the type of products/services you sell.
Different rules apply where your customers are private individuals (consumers) or businesses. The sales platform may also attract special rules regarding the information you have to give and how a contract might be cancelled. The type of product/service you sell may also attract special rules regarding when it could be considered faulty. It can be extremely useful and is sometimes compulsory to record these things in your terms and conditions.