Welcome to Michael Paterson & Associates

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Terms of Trade

Call us on (08) 9443 5383
if you would like assistance

 

 

Do your terms of trade and your clients' terms of trade include the following?  Ours do. :-)

1.        Formation of Agreement

  • Your written Contract can be created by oral acceptance, written acceptance, payment of deposit, etc.

2.        Provision of Work & Supply of Materials

  • Ties in to your quotes
  • Allowance of additional work to be requested.
  • Provision for escape if the work is greater than anticipated due to unforeseen issues.

3.        Prices

  • Prices at current rates if no fixed price is negotiated
  • Allowance for price variations is your suppliers increase their prices.

4.        Payment

  • Interest on the overdue amounts.
  • Administrative fees for having to chase overdue accounts.

5.        Retention of Ownership by Supplier

  • No title transfer until everything is paid for in full.
  • Client is required to provide all necessary information needed to register the interest on the Personal Property Security Register if you want protection from insolvency.

6.        Supply of Access and Information

  • Client must supply all access and information necessary to perform the work/supply the goods.

7.        Force Majeure

  • You are not responsible for untoward events beyond your control.

8.        Limitation of Liability

  • Liability limited as far as possible and where possible - e.g. repair, resupply, replacement only, with consequential loss and damages covered for business transactions.
  • Clauses comply with Regulation 90 of the relatively new Australian Consumer Law regulations where transactions are covered by the Australian Consumer Law.

9.        Enforcement Expenses

  • Full reimbursement for reasonable fees and expenses incurred chasing slow payers and defaulters.

10.     Director Provisions

  • Directors personally guarantee the performance of their company's obligations.