5 Reasons Why you Need Killer Terms of Business
Protect your Business
1. They create certainty as to the agreement between you and your customer -Oral contracts are in theory just as enforceable as written contracts, but the main problems with oral contracts are evidence and certainty. You may forget some of the terms that have been agreed with the passage of time or there may be a dispute as to what was actually agreed.
2. They help to minimise legal disputes and the chances of you being taken to court - With killer terms, the chance of a legal dispute is minimised as the customer’s lawyer will advise the customer that the terms are clear on the matter and they would have little chance of winning if the matter were to go to court. Accordingly, you are less likely to be taken to court. Happy days!
3. They help you to enforce your agreement - If you have your killer terms in place, it will be clear where a customer has breached the contract. Written contracts are much easier to enforce should you wish to take a customer to court (for example for non-payment).
4. They help you to cover all of the important matters and not overlook the things that are less obvious - As a non-lawyer, you will probably consider the more business related terms such as price, payment terms and delivery costs, but you may not think about limiting your liability, disclaiming your liability for failure or delay caused by force majeure, protecting your intellectual property rights and the passing of title and risk. A well drafted set of killer terms will fully protect your position.
5. They help you to provide good customer service - A clear set of terms and conditions that are applied consistently to all customers can really help with providing good customer service. Protections for you (such as specifying that you may not be able to deliver in the specified time in certain circumstances), will not come as a surprise to the customer when you seek to enforce a right specified in the terms. But moreover, in addition to including protections for you as the supplier, you can also include rights for your customers to provide them with reassurance as to how you will handle the agreement, for example sections on complaints, refunds and insurance.
Read the full article at: womenunlimitedworldwide
Patty Block, President and Founder of The Block Group, established her company to advocate for women-owned businesses, helping them position their companies for strategic growth. Charting the course for impactful, sustainable, profitable businesses, the beacon is control: of your strategic direction, your money, your time, your staffing, and your ability to bring in business. The Block Group brings together the people, resources and ideas that build results.
Small business consulting in Houston.
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