Importance of reviewing business Terms and Conditions

Tuesday 3 August 2021

What are Terms and Conditions?

Terms and conditions set out the basis upon which your business acts and their importance should not be overlooked when either starting up a new business venture or when growing your business into the future.

Accurate and comprehensive terms and conditions provide parties with clarity in respect of commercial terms, such as the agreed price and payment terms, rights and responsibilities of each party and cancellation procedures. They also capture key statutory provisions, relevant to your sector, ensuring regulatory compliance.

In addition, bespoke clauses can be added to reflect your individual business requirements; perhaps referencing an ‘Order Form’ to be completed or limiting your liability in respect of 3^rd party involvement.

Why are Terms and Conditions important?

The paramount importance of all-encompassing terms and conditions, containing both standardised and tailored clauses, is that they can help to protect your business in the event of a legal dispute arising. Provided that both parties willingly entered the business relationship, based upon the agreed terms and conditions, it becomes difficult to challenge aspects, unless they are deemed to be unreasonable.

Do Terms and Conditions need to be reviewed and if so, how often?

It is crucial to review your business’s terms and conditions regularly to ensure that they are up to date and in line with how your business operates. This should primarily be conducted in accordance with any changes to the business and the terms upon which it works, such as an alteration to estimated delivery times or supplied warranties.

Nevertheless, it is best practice to have your terms and conditions reviewed by a solicitor every 2-5 years to ensure that they still meet your business requirements and conform with current law.

How can Blacks Solicitors assist?

Our Commercial team will work alongside you and your business to produce precise and all‑inclusive terms and conditions, either from scratch or when reviewing existing documentation. This will offer your business added protection, reducing the risk of costly disputes, and promote clarity amongst your business networks.

If you have any questions about your business’s terms and conditions, please email or call our Commercial team today on 0113 207 0000.