Terms of Trade
The written commercial terms governing supply on credit, covering payment, title, interest, charges and dispute handling.
What they cover
Terms of trade are the contract that sits behind every credit sale. Good terms set out payment timing, retention of title, interest on overdue amounts, recovery costs, and how disputes are raised. In Australia they bind the customer once accepted, often through a signed credit application or by conduct.
Why they matter
Clear terms are the foundation of any recovery. Without them, charging interest or claiming costs becomes far harder. Across QLD, VIC, NSW and the ACT, courts will generally hold a customer to terms they signed up to, provided the wording is clear and not unfair. Keep a signed copy on file for every account customer.
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