1. Your terms and conditions govern the relationship between you and your customer; they set out exactly how the relationship will work and what will happen if something goes wrong.
2. If something does goes wrong you could find yourself taking a financial hit. It is essential to set out precisely the intended extent (or limit) of your liability.
3. Of course it’s not just about avoiding paying money out. You need to consider how to get money in. Your T&Cs should detail: how much is payable and by whom; how often payment will be required; how payment should be made and the consequences if payment is not forthcoming.

It is always a good time to consider whether your T&Cs are working for you. The commercial team at Poole Alcock would be delighted to advise on this essential but often overlooked documentation.