bizSimple

The simple way to start a business.

Monday 6 September

“Money doesn't grow on trees – but it is made of them”

Your terms of trading

As an absolute basic you should state your credit terms on your invoice, e.g.'Payment due 30 days from invoice date'.

It is also a good idea to actually have a full set of written terms and conditions that you can give to customers, have on your website, have printed on the back of your invoices or include in contracts signed by your clients at commission stage. You can get terms and conditions drawn up by a solicitor, and many have a basic format that they can adapt to your own specific needs, however, this will not be cheap.

The website clickdocs.co.uk has a huge range of business forms. Their charges vary from £4 for an invoice template to around £35 plus VAT for more technical documents, including pre-written Terms and Conditions.

The DTi also has a very good website – consumerdirect.gov.uk. It is designed to give advice to consumers of goods and services in the UK and is a really useful way for you to find out what your customers can legally expect of you. Your local Trading Standards office can also give you guidance on your legal responsibilities when selling to consumers.