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Terms and conditions can be a stumbling block over which many SMEs trip, causing payment disputes with customers and suppliers that can lead to loss of contracts. Euler Hermes Collections has launched the Terms and Conditions Review & Re-Draft Service, offering preliminary legal advice on terms and conditions of businesses. The new service, free to current customers, has been designed to help minimise the risk of contract disputes experienced by many small businesses that can lead to non-payment or insolvency. Phil Mercer, head of Euler Hermes Collections UK, said: “Should a dispute arise over whether an order has been delivered or a service provided and the small print does not back up what you believed to be the understanding you have to trade, then you could be liable for thousands of pounds which could put your company at risk.” The first stage is a free Preliminary Advice Service – a 30-minute conversation with a qualified lawyer that acts as a quick overview and health check of current arrangements that will expose if a business is at risk. Should it be required, a subsequent Review and Redraft Service can be arranged at a comparatively low fee. This will include a full assessment of existing written terms and documents of trade along with advice and recommendations. Lawyers can also provide a set of terms in line with current legislation in B2B business. “These reviews will guarantee that terms and conditions act as a written record of oral agreements, and ensure that they are in your favour when things go wrong,” Phil concluded. Other Business Money News
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