Terms of Business

Every business should be considering the basis terms upon which they wish to operate. With certain types of business, these terms can be set out in a letter and agreed between the parties. However, where businesses are trading between themselves they will often rely upon standard terms of business both when they sell and when they purchase. The terms may be printed on the reverse of order forms and forms which acknowledge orders. When both businesses have their terms printed on to the reverse of their paperwork, it can be difficult to unravel which set has priority. This is often known as the ‘Battle of the Forms’.

Therefore, even if you have your own set of terms it can be important that you take proper steps to ensure that your terms are regularly being properly incorporated into your contracts.

Additional Information