Skylark Land & Homes LTD
No-win no-fee planning for residential plots
Understand what to include in your business Ts and Cs here.
Terms and conditions in business specify arrangements, provisions and requirements that form an integral part of an agreement or contract between you and your customer.
Although finalising terms and conditions may not be a priority when starting your business, if neglected they could impact cash flow due to delayed payments, and the need to pay for materials before taking any payments.
Unfortunately for small businesses, late payments are often a given as customers give lower priority to bills from small firms. But, with the right terms in place, there should be no excuse for delayed payments.
See also: What do I need to know about GDPR as a business owner?
The aim of terms and conditions are to protect your business from other parties going back on their word. If it’s not in writing, there is no proof. They can either be written by yourself or you can seek the help of a lawyer to write these for you.
What to include in terms and conditions:
Well-drafted terms and conditions should act like a manual or recipe book for doing business and provide clarity on what to do in any given situation. The exact elements to include depend on the business. There is no one size fits all approach, but consider including the following:
See also: An overview of employment law for rural business owners
Tips for getting started with your terms and conditions: