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Do you trade on your own standard terms and conditions?
How good are they? When was the last time they were updated?
Do you issue credit enquiry forms to your customers?
What about confidentiality documents? Employment contracts?

Standard terms of trade are the foundation of every professionally run company. All businesses should have their own terms and conditions of trade. Sadly, many don't and some of those who do fail to keep them compliant with the regular changes which occur in legislation.

It seems obvious to say it, but a company which trades under its own (up to date) terms is in a much stronger position to achieve a favourable resolution should a dispute occur. It is shocking, therefore that more companies do not keep this area of their business current and suffer financial loss as a result. Some agree to accept the other party's standard terms; that is a potential recipe for disaster if there is a dispute. Naturally enough the terms will be biased to the company issuing them.

One of the first questions we ask clients when a dispute arises is "Did you agree contract terms?" We often find the "contract" is either based on the other party's terms or a completely outmoded document which may have been issued by our clients themselves. At the very least you should ensure you trade on your own terms or a negotiated version thereof.

If you contact us, we can quickly carry out a survey of the key documents your business should be using, starting with the standard terms of trade and if you agree, we can provide you with a SMART suite of documents to protect you in future transactions. These can include employment, health and safety, procurement and tendering etc. We can do as much or as little as you like, but most of our clients can see the sense in a periodic health check of their paperwork. Sound documentation provides your first line of defence. Just because you haven't had a major problem yet doesn't mean that one won't come your way. Statistics say that you could be next!

SMART documentation presents a professional image of your business and will guard against conflict and losses in the future. Contact us now for to discuss and arrange a review.

© 2020 SMART Commercial Debt Recovery
SMART Commercial Debt Recovery is a trading name of SMART Commercial Ventures Ltd.
Registered Office: Cherry Cottage, 35b Church Lane, Melksham, Wiltshire, SN12 7EF
SMART Commercial Ventures Ltd is registered in England and Wales.
Registered Number: 6587013

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