ARMA will review your terms of trade and look to include the below clauses where possible in order to assist in reducing the flow of bad debt and to reduce the cost of the recovery for you, the client.

  • Costs Clause – This will allow ARMA to add our costs of recovery to the debtor and seek payment from the customer.

  • Jurisdiction – Ensure that any legal proceedings can be commenced in your state at a court of your choice.

  • PPSR – Very important to update the retention of title clause to include PPSR, so that the goods remains yours until fully paid for even when the company enters into administration.

  • Privacy  - Recent changes to the privacy act mean that companies needs to include new terms for the protection of your, consumers, sole traders and partnerships privacy details

  • Personal Guarantee –This is so the owners of the business, guarantee payment to you regardless of whether the organisation goes into liquidation or not.

  • Caveat Clause – This will give you the right to lodge the caveat on the guarantors property to stop them from selling the property unless they pay you

  • Risk and Title – retention of title meaning ownership of goods will not pass onto the client until

Terms of Trade Review

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