The Office of the Small Business Commissioner (OSBC) have published a new guide ‘A Guide to Creating a Contract’.
Does your business sell goods to other businesses? Do you provide services to business customers? If so, having a written contract is one of the most important tools you can use to protect yourself.
What if:
- you have to wait 90 days for an important payment?
- your biggest customer goes under before paying you?
- there’s a dispute and nothing was written down, who knows what was agreed?
These are exactly the situations where a contract matters. It won’t prevent every problem, but it will give you a clear position, help build trust and make disputes much easier to resolve.
Even if written contracts aren’t standard in your industry, taking the time to set out how everyone intends to work together and how and when they’ll pay, is one of the best ways to avoid problems. The guide aims to help you do that. If there are complicated issues to work through, or the contract involves significant risks or costs, legal advice is a good idea.
But even simple contracts make a difference. Whatever your size, you’re an equal partner. A good contract makes that clear.
For further information please select the following link: Our Guide to Creating a Contract - summary - Small Business Commissioner