Terms of trade are essential for any business which sells goods or services.
Our specialist commercial lawyers at MatthewsFolbigg can assist you to prepare your terms of trade.
What are terms of trade?
Terms of trade are the standard terms and conditions a business uses when dealing with its customers. They may take the form of ‘fine print’ attached to a purchase order, or they may be in the form of ‘standard terms and conditions’ you have to ‘accept’ when purchasing goods or using services online.
Purchasers (especially larger companies or government bodies) may also use their own terms of trade when buying goods or services.
What kinds of businesses use terms of trade?
Any business which sells goods or services to customers should have terms of trade incorporated into their business dealings.
What are the rules governing terms of trade?
This depends on the particular industry the business operates in. Generally, if the business sells goods or services to a “consumer” as defined under the Australian Consumer Law (ACL), then the terms of trade must:
- contain relevant consumer guarantees and the mandatory text as required by the ACL
- not breach the unfair contract terms provisions of the ACL
What terms are usually included in the terms of trade?
Terms of trade will typically include provisions such as:
- terms of service or delivery
- customer responsibilities
- payment/subscription terms
- rollover provisions
- return of goods and/or refund policy
- PPSR and security clauses
- credit application terms
- warranties and indemnities
- limitation of liability
- termination and suspension
- force majeure events (e.g. war, terrorism, ‘Acts of God’ such as fire, earthquakes etc.)
- governing law
How can we help?
MatthewsFolbigg’s commercial lawyers are experts in preparing and drafting terms of trade. We have helped many businesses across a variety of industries assert their rights and safeguard their interests.
We have a team of solicitors, including accredited specialists in business law, who can provide you with practical and succinct legal advice and assistance.
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