Recently I met with a company south of Perth in the suburb of Bibra Lakes, just north of Fremantle. This well-established company, with four retail outlets is involved with supply and fitting of flooring.
The management had pulled together some terms of trade based on what they had read on the Internet. When we analysed their terms, we found they were missing some vital, basic clauses. Neither were they tailored to the requirements of their specific business.
This situation is far more common than you may think. The consequences of their approach however, was to leave them wide open to potential penalties in privacy legislation, an inability to perfect a PPSR security, no opportunity to recuperate debt recovery costs as well as exposing themselves to additional liabilities.
All of which we have now rectified with fully comprehensive Terms & Conditions of Trade, including industry specific clauses. My father used to say “penny wise, pound foolish” when someone tried to save a little bit of money which can end up costing a lot. When you buy and sell your house you employ a solicitor. When you want to secure your business income to pay for that house, call EC Credit Control. We will give you professional advice to ensure your business is at minimum risk.
If you are located in the areas bordered by South Perth, Welshpool, Fremantle and back up to Perth give me a call on 0400 373 972 and arrange a free consultation.