I own a construction company and as of late have noticed I am in need of putting terms and conditions on my quotes. Is there a place where I get this done in a legal sense?. Or do I just go about writing them. Will they be enforceable once the other parties sign the quote??
Even worse, I didn’t really know where else to ask this question.
I want to start charging interest for late payment.REL,
Any contract is binding when it’s signed by both of you, without duress, and you can put anything into it. The contract won’t be valid, though- even if signed- if it’s found to be unconscionable (manifestly unfair) or if it’s made with a person under the age of 18 etc.
If I were you, I’d get it checked by a solicitor to see that you’re not breaking any fiduciary laws with the clause, and I’d also draw the attention of the clause to any client who is going to be subject to the clause. The obvious thing is to not discourage any client from seeking legal advice about the clause- courts would look very unfavourably upon anyone who did that- it looks dodge. They also look unfavourably upon small print in contracts.
I’d work out scenarios if I were you- how much interest would the person pay if late for 1 week, 3 months, 1 year etc, just to make sure it doesn’t end up costing a client something that would more be in the realm of a payday loan.
kay henry
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