This, then, is the starting point for any business. Note also the repetition in the first paragraph of the word ‘written’. Don’t even think about trading until
contracts or Terms of Business have been properly drafted. They need to be legally sound and to avoid the many pitfalls presented by the laws forbidding ‘unfair’ contract
terms. These are our templates – the way we work. They will make clear such fundamentals as what we will do and
how, terms of delivery and payment, and what will happen in the event of a dispute. Certain types of liability can be excluded, provided they are reasonable and have been
carefully thought through. If our contracts are securely in place, then we are more likely automatically to pause and
think carefully before we vary them. It’s all too easy to alter them in a simple –yet legally binding -- phone call, but the discipline of having a standard written contract
will remind us of the need to have any amendments recorded and signed Dealing with individuals rather than other
businesses generates the need for extra care. For instance, Terms of Business cannot exclude certain statutory consumer rights.
Contracts or written Terms of Business breed good habits, offering a sure footing in our dealings with both customers and supplies. For instance,
we are more likely to check business references and to read carefully our suppliers’ terms, including the small print on the back of invoices.
One typical pitfall can involve maintenance and service agreements which embody perpetually renewable contracts. These will roll on for another
year unless the client business complies with the precise detail of the notice requirements. Missing the termination dates by even a single day will leave them locked into the
agreement. Reviewing business basics is a useful exercise at any time. And what could be more basic than the
contracts that promote and protect us? So take a fresh look at your contracts or Terms of Business and ask
yourself: Do they give the best possible protection against disputes or other legal claims? | 
