There are a number of reasons that your business might need to update its customer contracts or terms and conditions (T&Cs) from time to time.
There may be internal changes within the business that you feel you need to communicate to your customers and clients. Contracts can, of course, be formed verbally but it is often preferable to use written contracts and T&Cs.
Having such documents in place is vital to ensuring that any important information about the company and the ways in which it operates is immortalised in text. This has benefits for both your business and its customers, and can help to greatly reduce the likelihood of disputes and disagreements later down the line.
Updating your customer contracts
Customer contracts are particularly important – especially for businesses that trade with suppliers, or supply goods and services themselves to other companies within a chain.
For each transaction, it is important that both parties fully understand the obligations and/or liabilities they are agreeing to.
It is equally important that these contracts are up-to-date and drafted in such a way that is to the overall advantage of the business.
Regularly reviewing your terms and conditions
T&Cs are of equal importance as they help both parties to understand their rights, obligations and liabilities and set out what each party can and cannot expect from the other.
Businesses should seek help to review their T&Cs regularly to ensure they are up-to-date and reflect any recent regulatory or legislative changes which might affect them.
This is particularly important if these documents need to reflect complex and far-reaching changes to the ways in which they operate, such as with the GDPR.
If you need assistance or advice with the drafting or re-drafting of customer contracts, T&Cs, or other commercial documents, contact us to find out how our expert team can help.