Latest News

22 Aug

The Big House Presents: EXPO

EXPO is a great opportunity to discover what with these businesses to localise your supply chain, reduce your carbon footprint, and create jobs and opportunities in the D2N2 area.

20 Aug

Chamber offers free year-long membership to businesses affected by Toddbrook Reservoir incident

East Midlands Chamber (Derbyshire, Nottinghamshire, Leicestershire) continues to work with partners to offer comprehensive support to local businesses which have been - and continue to be - affected by the potential collapse of Toddbrook Dam.

19 Aug

‘Energy for Business’ scheme helps local businesses make the low-carbon leap

A project which helps local businesses that want to develop low-carbon solutions, has been awarded funding to support SMEs in the region for another three years.

Buying and Selling Goods and Services

 

Buying and Selling Goods and Services

Having formal written information in place ensures the roles and responsibilities of both parties are clear and can be particularly helpful where one party feels obligations are not being fulfilled.

 

If a business relationship goes wrong a contract can be vital document when seeking professional advice.

Invoices

When you sell a customer a product or a service an invoice must be supplied if both you and the customer are registered for VAT. A receipt is an acknowledgement of payment not an invoice.

An invoice should include specific information including how much the customer needs to pay you and when as well as official details of your company. There are additional requirements for limited companies and sole traders. A range of advice can be found here along with the obligations of both parties regarding payment and your right to charge interest on late payment. At some point you may also need guidance on dealing with and chasing debts, included below.

Terms and Conditions of Sale and Purchase

When drawing up terms and conditions it is important to include specific information whilst bearing in mind the needs of your business. This is particularly important when using standard documents or terms and conditions used by other businesses. Standard terms and conditions may not cover your own particular ways of working on, for example, repair and replacement, delivery and returns policies.

Make sure you understand how contracts work and seek professional legal advice.

Selling to Consumers

Consumer law changed on 1 October 2015, as the Consumer Rights Act came into force. The Consumer Rights Act replaces a number of laws with regard to business-to-consumer transactions, including the Sale of Goods Act 1979 and the Supply of Goods and Services Act 1982. The changes cover:

  • what should happen when goods are faulty
  • unfair terms in a contract
  • what happens when a business is acting in a way which isn’t competitive
  • written notice for routine inspections to be given by public enforcers, such as Trading Standards
  • greater flexibility for public enforcers to respond to breaches of consumer law, such as seeking redress for consumers who have suffered harm

As well as these changes there are 2 new areas of law covering:

  • what should happen when digital content (e.g. online films, games, e-books) is faulty - the act now gives consumers a clear right to repair or replacement
  • how services should match up to what has been agreed, and what should happen when they do not or when they are not provided with reasonable care and skill (eg giving some money back if it is not practical to bring the service into line with what was agreed)

More information can be found in the summary and a copy of the full legislation.. You may also find the information on the Business Companion website useful.

If you have a specific consumer legislation or trading standards enquiry please call us on 0333 006 9178 and we can put you in touch with one of our Better Business Regulation partners.

Useful information