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Guide to Making Effective Business Contracts – Professional Services

Making effective everyday business contracts will reduce the risk of disputes and bad debtors and improve the value of your business.

Having an effective contracting solution in place is also fundamental to the effective implementation of Credit Management and Debtor Management procedures.

If you supply business or professional services on credit, having an effective solution for making everyday contracts is SIMPLY A MUST. But you already know this.  It’s why banks and large companies always having comprehensive standard form contracts and why the form of contract is the first thing that any Lawyer or Debt Collector asks for.

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Overview

The purpose of this Legal Guide is to assist your business to:

  • Understand how most Business and Professional Service businesses make everyday business contracts,
  • Understand how and why to make contracts incorporating relevant standard form Terms & Conditions of Service, and
  • Provide an insight into how our everyday contracting solution (TradeSafe Contracts) can work for your business.

“Despite common practice, standard form Terms & Condition of Service can not be incorporated into a Contract by their inclusion on a Tax Invoice issued after the Contract was made”.

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Here is why your Business should make effective everyday Contracts!

  • Simply to stop making vague, ambiguous or unenforceable contractual arrangements that put your business at risk and lead to write offs or compromises when a dispute or bad debtor inevitably arises.
  • To enable you and your staff to apply best practice credit control procedures in your business.
  • To reduce the risk of bad debts and disputes which might otherwise put your business or personal assets at risk and/or lead to expensive litigation.
  • To strengthen your position to recover unpaid invoices and improve cash flow, including by obtaining security interests under the Personal Property Securities Act and/or personal guarantees which make all the difference when a customer faces insolvency and numerous creditors are competing to be paid.
  • To confidently serve valid Payment Claims under Security of Payment Laws.
  • To improve the value of your business by having clear and certain contractual arrangements that are capable of assignment to a purchaser.

Order a TradeSafe Contracts solution online.

Call now to speak to a Commercial Lawyer about your contracting procedures.

1300 553 343

Find out how and why to make effective everyday business contracts.

A Contract will exist when a business agrees to perform work or supply goods or services for consideration.

In most cases, a Contract will exist regardless of whether the Contracts is in writing or evidenced in writing.  The problem that inevitably arises when a Contract is not made in writing is determining what exactly was agreed and, therefore, what are the precise express or implied terms of the Contract.
This significant problem that businesses encounter can be easily overcome by the adoption of contracting documents and procedures including standard form Terms & Conditions of Service.

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What’s Covered?

This guide covers the following important topics for business that extend credit to customers:

  • When does a Contract exist?
  • How do Professional Service businesses make Contracts?
  • Incorporating standard form Terms & Conditions of Service.
  • Engagement Letter & Proposal Templates.
  • Acceptance forms (Agreement for Services).
  • Personal Guarantees.
  • Terms & Conditions of Service.
  • Security of Payment.
  • Rights on Default.
  • Credit Charges.
  • Dealing with Overdue Accounts.
  • When to use Debt Collectors and Lawyers.
  • Building & Construction Industry Security of Payment Act 1999.
  • Personal Property Securities Act 2009.

Order a TradeSafe Contracts solution online.

Call now to speak to a Commercial Lawyer about your contracting procedures.

1300 553 343

Testimonials

Sam took the time to understand our business and worked closely with us to create a contract that was easy for our clients to read and understand while providing us with the required level of legal protection.

“We worked with Sam from Roberts Legal to develop a service level contract for use with our clients. Sam took the time to understand our business and worked closely with us to create a contract that was easy for our clients to read and understand while providing us with the required level of legal protection. I would recommend Sam and the Roberts Legal team to anyone who is after a solicitor who will take the time to understand their needs and requirements or after a solicitor who can talk to them in plain English.”

Tristan HoughMyrtec


I commend Roberts Legal’s approach to encouraging people to get it right up front, rather than wait until there’s a problem. It’s a breath of fresh air.

“I really like Sam Roberts’ article on Security of Payments. Too many commentators focus on the dispute provisions rather than the excellent process that Sam alludes to in his article. We are delighted to see contract clauses that encourage complying Payment Claims, as opposed to the current trend for “look around the corner” avoidance tactics. I commend Roberts Legal’s approach to encouraging people to get it right up front, rather than wait until there’s a problem. It’s a breath of fresh air. We strongly encourage all businesses in the building industry to insist on using a complying process as a business-as-usual practice to protect their entitlements. To this end we have developed a unique software solution to facilitate the process.”

John Lowry, Director The Power Tool Pty Limited

Get the edge over the other parties you are contracting with.

Don’t wait until you get stung by another dispute or bad debtor before getting your business’ contract and contracting procedures sorted our.

Download our Guide to Making Effective Contracts NOW.

Complete the form below and we will email you our Guide.

 

Order a TradeSafe Contracts solution online.

Call now to speak to a Commercial Lawyer about your contracting procedures.

1300 553 343