Terms and conditions contain the terms and conditions of a service/product offered by a seller to a buyer.
Each Quotation/Sales Order must ideally contain a set of terms of your contract. Terms and conditions are usually included to define terms of service, conditions for using any service or to even limit responsibilities of the seller in case any harm is caused to the buyer due to using the provided goods or services. It is usually a good idea to make template(s) of your Terms and Conditions so that you have a standard set of terms.
To access Terms and Conditions template go to:
Home > Selling > Terms and Conditions Template
How to create Terms and Conditions Template
- Go to the Terms and Conditions Template list, click on New.
- Add the Terms and Conditions.
Select in Transaction
In transactions, you will find a section of Terms and Conditions where you will be able to search and fetch the required Terms and Condition master.
Terms and Conditions when printing
Once the Terms and Conditions are set in a Sales/Purchase transaction, it will appear when printing:
What should Terms and Conditions contain?
Here are some common topics that Terms and Conditions should contain:
- Validity of the offer.
- Payment Terms (In Advance, On Credit, part advance, etc).
- What is extra (or payable by the Customer).
- Safety/usage warning.
- Warranty if any.
- Return Policy.
- Terms of shipping, if applicable.
- Ways of addressing disputes, indemnity, liability, etc.
- Address and Contact of your Company.
Terms and conditions are the general and special arrangements, provisions, requirements, rules, specifications, and standards that a company follows. These specifications are an integral part of an agreement or contract that the company gets into with its customers, suppliers or partners.