Terms of Trade

Many small to medium sized businesses supply goods and services on the basis of informal agreements. Sometimes disputes between the parties can arise out of misunderstanding as to what the agreement really is. In most cases having a written “Terms of Trade” can avoid this sort of misunderstanding. Simply put, the Terms of Trade are the terms of the contract between the parties. Terms of Trade can also assist in standardising transactions, managing debtors and minimising bad debt.More