If you’re in business, then it’s vital to have a good set of standard terms of trade, or terms and conditions—and to make sure they’re up to date. We’re here to help you get them right for your business.
Do you need terms of trade or terms and conditions for a business?
Terms of trade, or terms and conditions, serve as the generic contract between your business and all the customers to whom you provide goods or services. They set out the processes, rights, responsibilities and obligations that fall on each party.
Getting them right can mean the difference between having a well-oiled business, and, well, going out of business. Because done well, they’ll clearly set out what each party can expect from the relationship. That gives you both certainty, helps limit your risk and generally leads to good business relationships.
How do you create terms of trade?
You can create terms of trade or terms and conditions yourself. However, the risk is that they won’t do what you need them to do. There’s a lot of nuance required, and you might find the terms you create yourself won’t be enforceable when you need to rely on them.
So that’s where we come in. Taking our knowledge of the law and our experience creating, updating and troubleshooting terms and conditions, we can create the terms and conditions that will be the right fit for your business and your customers.
Typically a business’ terms and conditions would include terms relating to matters such as:
- Acceptance of the contract
- Payment
- Rights and obligations
- Limitations of liability
- Warranties
- Duties of care
- Privacy
- Confidentiality
- Termination
As with any contracts, it’s important to remember that you can’t just add anything. Even if a client or customer agrees to the terms and conditions, there are certain things that just won’t be enforceable under New Zealand law. That’s all the more reason to check that your terms and conditions are constructed in a way to deliver what you want and need.
What if the other party has their own terms?
If you’re doing business with another business, chances are they’ll have their own terms of trade or terms and conditions—and it’s unlikely they’ll match yours.
If they’re happy accepting yours, then great! But if they’re asking you to accept theirs, tread carefully. This is another point where it’s really helpful to have a lawyer review things. We can identify any pitfalls, and help you understand what you’re getting into.
We can help you create, review or update your business terms of trade or terms and conditions
If you’re starting from scratch or want to review your existing terms and conditions, we’re here to help. Let us know what you want to achieve, and we’ll get you there.