Business Owners – the importance of terms and conditions of trade

December 17, 2013

in Corporate & Business

Corporate & BusinessHaving terms and conditions of trade in place is an important part of your business structure.

What are terms and conditions of trade?  Whether a business is a supplier of services or products the terms of trade are the terms upon which a customer will be bound when dealing with your business.  This ensures protective mechanisms are in place governing such things as:


  • Delivery of products or services
  • Price and payment terms
  • Risk and title to the products. Including provisions stating that title in the goods does not pass until you have received payment in full. Also the option for you to register a security interest over the products under the Personal Property Securities Register until you have been paid in full
  • Defects.  Provisions dealing with defective products including policies regarding return of defective products
  • Warranties relating to the provision of the services or products and in particular limiting your liability including provisions relating to the Consumer Guarantees Act 1993.

These are just some of the terms that need to be considered.

We have extensive experience in all aspects of business law and we will tailor your terms and conditions of trade to ensure that these are consistent with your particular business.

Having terms of trade means that your customers are aware from the outset of the terms upon which they conduct business with you.  It also enhances the reputation of your business by showing you are organised and professional in your dealings with customers.

If you require any advice or further information on the matters dealt with in this publication please contact the lawyer at Farry and Co. who normally advises you, or alternatively contact:

Simon Milne

03 477 8870 or 09 379 0055


The information contained in this publication is intended as a guide only.  It does not constitute legal advice and should not be relied upon as such.  Professional advice should be sought before applying any of the information to particular circumstances.  While every reasonable care has been taken in the preparation of this publication, Farry and Co. does not accept liability for any errors it may contain. 

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