Good Debts Start With Good ‘Terms & Conditions’

 

Sales season is here, are you sales ready?

Getting paid for any goods or services can have its challenges, but with clear written payment terms upfront … you are already ahead of the field.

 

What are ‘Terms & Conditions” (T&Cs)?

In basic terms, T&Cs are the agreement between a seller and a buyer, generally distributed during the sales process or presentation of an invoice. It is a legally binding contract outlining the finer details of your transaction, and should you have issues collecting debts in the future – can mean all the difference in recovery.

 

Start your sales on good ‘Terms’.

When it comes to getting paid on time, a good starting point is to make sure you have clearly worded Terms & Conditions (T&Cs) for all sales. This means if you have issues with slow paying debtors you’re in a good position to:

· find alternate solutions to mediation.

· recover costs associated to late payments.

· include PPSRs which allow repossession of stock or goods (where appropriate).

 

When did you last review your Terms & Conditions (T&Cs)?

They may exist, you may diligently distribute with each sale but is this legal document up to date? Does it reflect today’s changing legislation? Does it cover your costs should you need to take action to recover your debts?

 

Take our quick quiz…

1. Does your business have Terms & Conditions (T&Cs)? Y | N

2. Are your T&Cs branded and clearly written? Y | N

3. Do your T&Cs provide enforceable options for debt recovery Y | N

4. Are your T&Cs regularly reviewed to ensure relevant and up-to-date legislation? Y | N

5. Do you issue T&Cs as soon you engage with a client? Y | N

 

Are you unsure how to answer any of the above?

Let Thoroughbred Recoveries take the reins. Aside from recovering debts, we are well positioned to not only review your T&Cs, but provide you with an honest assessment of requirements. The process includes:

1. Initial discussion to understand your position.

2. Draft T&Cs, including legal review.

3. Apply your legal entities and branding.

4. Deliver your final up-to-date, enforceable T&Cs.

 

Let’s talk T&Cs.

Our process is simple, our conversations confidential and our fee structure transparent. Contact us on (02) 9196 8955 or email office@tbrecoveries.com.au to discuss your options and how we may be able to help start your sales on ‘good’ terms.