Terms of Trade

By: City Mercantile   02-Jul-2012
Keywords: Process Serving, Skip Tracing, Collection Services

What are "Terms of Trade"? "Terms of Trade" are the terms of the contract between a seller of goods or services and the buyer. These terms are the terms of the parties' contractual obligation to each other and can not vary without the other parties agreement. Many businesses supply goods and services on the basis of informal agreements, and often disputes arise that could have been avoided if there had been clear, written terms of trade from the start. In particular, having clear terms of trade is an excellent way of minimizing and preventing bad debt. Cautionary Notes: If your terms of trade are inadequate it can sometimes be difficult to pursue or prevent bad debt. Therefore, City Mercantile tailor correctly worded terms of trade suitable for your business.

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