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Contracts for Your Business: A straightforward guide to contracts and legal agreements by Charles Boundy

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Chapter 6. Payment Terms

6.1 The contract price

The basics – Getting the price right and getting paid are fundamentals for anyone supplying goods or services. For the customer, whilst headline price is often negotiated early on, the overall cost and payment terms may be just as significant, and the significance will increase with longer-term contracts and more volatile markets. As with everything else, the key to price is first of all being clear what you have ordered or agreed to supply.

Goods – Price is initially straightforward when the number of products and the price per product are specified, preferably with a total payable. The buyer should check whether the seller’s terms of business (#4.4) apply and, if so, whether these contain ...

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