With the increasing use of emails both for communications and for sending and receiving documents, it is becoming common for businesses to send tax invoices by email. Perhaps in light of this growing trend, there have been some recent amendments to the Building and Construction Industry Security of Payment Act 1999 (NSW) in relation to […]
Making effective everyday business contracts will reduce the risk of disputes and bad debtors and improve the value of your business.
We guarantee that our standard form contracting solution will pay for itself the very next time you have a customer that delays or refuses to pay an Invoice.
TradeSafe Contracts is a low cost and easy-to-use system and package of legal documents designed to help you make effective everyday business contracts incorporating your unique Terms & Conditions of Service.
Our TradeSafe Contracts package comes complete with a simple to follow User Guide that explains when and how to use each of the documents in your package.
Our TradeSafe Contracting solutions are customised to suit every business. For most businesses they include:
- Customised Terms & Conditions of Trade,
- Quotation/Proposal Template & Purchase Order Form,
- Credit Application,
- Contract Variation Form,
- Personal Guarantee & Indemnity, and
- Final Notice – Overdue Account Letter Template.
Documentation Overview & Samples
The Quotation Template is provided in Word format so that you can prepare individual Quotes for Customers.
The Quotation Template also contains:
- hidden text (red font) that provides specific instructions on how to prepare Quotations without affecting the enforceability of the Terms & Conditions of Trade, and
- built in links to help you verify a client’s Company Name, ACN, Business Name and ABN when preparing a Quotation.
How to view hidden instructions.
Order & Order Acceptance Forms
The Order & Order Acceptance Form forms part of the Quotation Template.
Clause 1 of the Terms & Conditions of Trade clarifies that a Contract (or Agreement) will arise upon an Order being accepted by an Order Acceptance.
The obtaining of a signed Credit Application will ensure that:
- your Customer has acknowledged prior disclosure and acceptance of the Terms & Conditions of Trade, and
- the Terms & Conditions of Trade will be incorporated into Contracts that you make with the Customer in future.
Terms & Conditions of Trade
This is the single most important document in the package. The primary purpose of the Quotation, Order form and Credit Application is to ensure the effective incorporation of the these terms and conditions into the contract with the Customer.
We will prepare customised terms dealing with your industry and business specific risks and problems you have experienced in the past. Our Terms & Conditions of Trade will also include the following clauses and more:
- Progress Claims – confidently issue valid Payment Claims under the Building & Construction Industry Security of Payment Act, where applicable.
- Personal Guarantees – protect yourself from insolvent Customers.
- Real Property Security – obtain security for payment over land owned by the Customer and Guarantor.
- Personal Property Security – obtain and enforce security over personal property under the new Personal Property Securities Act.
- Collection Costs & Interest – don’t be left out of pocket the next time you need to engage a debt collector or take enforcement action.
- Default, Termination & Suspension – be certain when you are entitled to suspend or terminate a contract.
- Defects Liability Period & Limitation of Liability – limit your liability to the extent permissible at law.
- Dispute Resolution – avoid costs associated with litigation, where possible.
Depending on the nature of your business our Terms & Conditions of Trade are typically 2-3 pages long. We will also deliver a long form version of the Terms & Conditions of Trade to make available to Customers who find it difficult reading fine print.
Contract Variation Forms
The Contract Variation Form is provided in both Microsoft Word and PDF formats and also contains hidden instructions and built in links.
A Contract Variation Form should be prepared and submitted to the Customer whenever there is a variation to the original Contract.
Personal Guarantee & Indemnity
The Personal Guarantee & Indemnity should be used if a personal guarantee:
- is required from someone other than the person submitting an Order (e.g, another Company Director, Business Partner or the spouse of a sole trader), or
- is not initially obtained and is later required due to a Customer requesting a Variation or an extension of time to pay.
Final Notice – Overdue Account Letter
Still have Questions?
Call now to speak to one of our Commercial Contracts Lawyers
1300 553 343
With our TradeSafe Contracts contracting solution, we make it easy for you to manage credit risks.
If you supply a trade or service 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.
The express terms of a contract make a huge difference when it comes to resolving disputes and dealing with bad debtors.
Why Use TradeSafe Contracts
- We make it easy for you and your staff to apply best practice credit control procedures in your business.
- You will reduce the risk of disputes and bad debts.
- Strengthen your position to recover unpaid invoices.
- Confidently serve valid Payment Claims under the Security of Payment Laws.
- Improve the value of your business.
Features & Benefits
You will strengthen your Contract Rights
- Avoid and manage common disputes regarding scope of works, variations, price/rates, defects and rights to suspend and terminate contracts.
- Know when you can validly suspend and terminate a contract.
- Limit liability and disputes in relation to warranties, implied terms and misrepresentations.
- Be able to obtain personal guarantees and security of payment.
- Recover legal and collection costs where enforcement is necessary.
You will have essential Credit Management tools
- Built in links to help you verify a client;s Company Name, ACN, Business Name and ABN when preparing a Quotation or Contract Variation.
- Obtain consents required to order Credit Reports before accepting an Order.
- Be able to obtain Personal Guaranteed when appropriate.
- Obtain security for payment over real and personal property.
- Proven Final Notice – Overdue Account Letter Template.
- Recover interest at a commercial rate on late payments.
- Legally charge overdue account default fees.
Improved Industry Compliance
- Confidently serve valid Payment Claims under the Building & Construction Industry Security of Payment Act.
- Obtain registrable Security Interests under the Personal Property Securities Act.
- Obtain Privacy Act consents for credit assessment and debt collection.
They are easy to use
- Look professional in the eyes of potential new clients.
- Simple to follow User Guide will assist you and your staff to maximise the benefit of your TradeSafe Contracts package.
- Documents contain instructions in “hidden text” (in red font) for completing without effecting the enforceability of your Terms & Conditions of Trade.
- Make contracts that are assignable to prospective buyers
- Increase the value of your business to prospective buyers by reducing the number of bad debts and increasing profitability and cash flow.
Our fixed fee for the preparation of TradeSafe Contracts package is only $2,750.00 (GST inclusive).
A $275.00 deposit is payable on submitting your Order. The balance is due 14 days after delivery.
If you are not totally satisfied that our TradeSafe Contracts package adequately addresses all legal matters and risks concerning your business, contact us within 14 days of delivery and we will happily incorporate any necessary amendments free of charge.
Still have questions?
Call now to speak to one of our Commercial Contracts Lawyers
1300 553 343
Common Misconceptions about Contracting in the Building & Construction Industry and what to do to avoid getting caught out.
When I ask clients whether a written contract was in place or whether variations had been documented, too often I receive the following response “no there was no contract, we just agreed to it” or “I didn’t think it was necessary it was a small job“. Firstly, it is an incorrect assumption that just because […]
As an Accredited Specialist in Commercial Litigation I have dealt with all kinds of business disputes. By far the most common cause of commercial disputes is the failure of the parties to adequately record the terms of their agreement in writing. This is particularly common in the building and construction industry. When there is an […]
As a result of the severe consequences of failing to provide a Payment Schedule in response to a valid Payment Claim a lot of the case law that has developed in relation to the Building & Construction Industry Security of Payment Act relates to when a Payment Claim is valid. This is because there can […]
Thank you for ordering a TradeSafe Contracts Package. We suggest that you use the following Letter Template to submit your new Credit Applications and disclose your new Terms & Conditions of Trade to your existing recurring Customers. Download our Guide to Making Effective Business Contracts: Incorporating Terms & Conditions of Trade ______________________________________________________________________________ INSERT DATE Dear […]
Giving a Final Notice to a Debtor An effective Overdue Account Letter is an essential component of every businesses Debtor Management Procedure. For a free Sample Debtor Management Procedure download Fast Track Debt Collection’s “6 Steps to Improving Cashflow: A Guide to Better Credit Management” Your Overdue Account Letter will be more effective if […]
Thank you for ordering a TradeSafe Contracts Package. These instructions will help you view the hidden instructions contained in our Quotation Templates, Engagement Letter Tempatles and Contract Variation Forms. Download Guide to Making Effective Business Contracts – Contractors & Suppliers Download Guide to Making Effective Business Contracts – Business & Professional Services How to View […]
The Building and Construction Industry Security of Payment Act 1999 (NSW) applies to almost everyone who works in the building and construction industry or who supplies related goods or services. This includes quantity surveyors, planning consultants, project managers, engineers, carpenters, electricians, painters, pest inspectors etc. However, it does not apply if you do work directly […]
The best way to deal with bad debtors is to implement standard contracts and procedures within your business to actively reduce or eliminate them in future. A contract will exist when your business agrees to perform works or supply goods for reward regardless of whether the contract is in writing. The incorporation of standard terms […]
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 Hough, Myrtec
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