As a supplier you should always check out the companies/people you are dealing with. Are they reliable and established? You don’t want to get caught out by insolvency or even fraud. You should also carry out a check on the financial soundness of your customers. We recommend you have a process in place. Create a form and send it to potential customers to complete, authorising you to get bank, credit and trade references. Here we have full details of what you can do to ensure you are setting up a relationship that works well and lasts a long time.
Every business transaction involves a contract, and generally speaking, unless the transaction is an over-the-counter sale, it is much safer to put the terms in writing. As Nobel prize winner, Oliver Hart says in the quote on our homepage: “From shopping in a store to running a corporation, contracts and agreements matter everywhere.”
Whilst it is tempting to agree terms of a transaction on the basis of a handshake or an email, a canny buyer or supplier should always ensure that they have entered into comprehensive terms which cover the key aspects of the deal. Contracts are the glue that seal the relationship between a business and its customers or clients and provide certainty. Good contracts make great relationships! Here we cover in-depth what you need to know.
Here at ContractStore we want you to be able to protect your business effectively for less. We publish contract templates so you can understand what to think about in business dealings, but we always encourage
Chasing Debts and Stopping Late Payments Delivering your invoice Chasing a debt Debt collection agents Statutory Demands Remedies that do not involve litigation Checklist If your client or customer fails to pay on time,
Generally, under English law, there is no particular formality required for making a contract. So, even if you have a contract in writing which is signed by both parties, it’s arguable that when you want
On 5th November ContractStore’s Giles Dixon is doing a webinar for Startup Richmond entitled Is your Business ready for Brexit? The webinar looks at some of the risks cross-border businesses will face and how to
Do you need a shareholders’ agreement or are you setting up a new business? If so, you may be interested in a webinar given by Giles Dixon of ContractStore for Start-up Richmond Demystifying Business Structures And
There is a new procedure for businesses chasing debts in the UK. The Pre-Action Protocol for Debt Claims applies whenever a business is chasing an individual (including a sole trader) for a debt and is planning to sue. From 1st October 2017 a claim letter has to be sent before proceedings are started and this has to contain detailed information with regard to the claim.
If you are thinking of appointing a Sales Agent, either in your own country or overseas, you should be sure to to have the terms agreed in writing. A good contract will protect your interests and help