Have you missed out the important task of setting the ‘Terms & Conditions’ of your trade?
- Legal Protection:
A proper drafting of terms & policy protect the start-ups from facing any serious legal claims. Terms & conditions express procedure of business operations, outline the liabilities of the company and legally bind the consumer & business in a contract that is acceptable in the eyes of law.
- Provide clarity to the consumer, partners or suppliers:
The terms & conditions plays a significant role in clarifying related parties which include consumer, supplier or JV partner about their duties, responsibilities, authorities & liabilities.
- Mitigate unforeseen risks:
- Privacy policies retain your customer’s trust:
- Setting payment terms beforehand can protect your business cash flow:
With apt payment terms in our Terms & Conditions, you can avoid spending time & resources on debt collection. Infact, you can get ensured on getting payments on time.
How to customize terms & conditions that hold relevance to your start-up?
With proper implementation of terms & conditions, Start-ups can legally cover themselves from the legal claims, consumer-complaints and uncertainties. Hence, it is really crucial to understand the draft of terms that can effectively establish the foundation for interaction with your customer in view to your responsibilities or liabilities.
Start-ups can customize the information that they want to provide in the draft, on the basis of its business relevance. For instance:- products & services, terms for payment, guarantees or warranties, copyrights or trademark, law governing the terms & conditions of the start-up and open clause with regard to any further amendments in the terms & conditions.
Interestingly, internet gives easy access to start-ups in finding generic templates as tailored suitably for different business segments. It can help in initiating the draft but it has to be completely applicable to your business. A comparative review of other company’s terms and conditions in the similar segment can broaden the knowledge and helps in choosing the relevant terms for the enterprise.
Attorney service is advisable……..why?
A lawyer is specialized in building different kinds of legal contracts. It would be apt to render the services of an advocate when it comes to either drafting or checking the draft of terms & conditions of any start-up. His/her expertise in the Acts, Provisions and drafting contracts shall leave no scope for loopholes, mistakes or miss-outs.
Privacy Policies are required when there is a need to collect the personal information of your customers by way of transaction or if they are to visit your social media page or website. It guarantees the user/consumer on way of gathering information, sharing of information or using the same. It also ensures security as well as confidentiality of their personal data.
Hire a Lawyer for reviewing or drafting