It is vitally important that every business ensures that the contracts it enters into are appropriate and suitable for the needs of that business.
Depending on the strength and bargaining position that a party to a contract may have, the terms and conditions of a contract can change and vary from time to time, but that does not mean to say that is a bad thing. Indeed, it is unusual (and often a bad idea) to have one terms and conditions sheet that is set in stone for every customer of a business.
Some trade associations, steering groups or networks may publicise “standard” terms and conditions for businesses in a particular industry to use. Whilst many may assume that having a document produced by a supposedly reputable organisation will be “saving” them money, this is a dangerous assumption to make.
A “standard” document drafted by a trade association or similar body will be just that, standard.
All commercial contracts should be tailored to the needs of the parties to it. Whilst a trade association or similar body may provide a helpful starting point, it is unlikely that the document is going to fit perfectly with what that business requires.
SMEs and start-ups especially should take careful note when drafting their business’ template terms and conditions and think twice when amending and negotiating aspects of them in the future.
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The information and opinions contained in this article are not intended to be comprehensive, nor to provide legal advice. No responsibility for its accuracy or correctness is assumed by berg or any of its partners or employees. Professional legal advice should be obtained before taking, or refraining from taking, any action as a result of this article.