Standard terms and conditions of purchase risk management guide
Produced in partnership with Elizabeth Bourlet

The following Risk & Compliance practice note produced in partnership with Elizabeth Bourlet provides comprehensive and up to date legal information covering:

  • Standard terms and conditions of purchase risk management guide
  • Why you need to manage this risk
  • Top five priorities
  • 1. Consider when your organisation should use standard terms and conditions of purchase
  • Consider when your organisation should use standard terms and conditions of purchase—mini action list
  • 2. Priority of your organisation’s terms and conditions over those of the supplier
  • Priority of your organisation’s terms and conditions over those of the supplier—mini action list
  • 3. Ensuring consistency with your systems
  • Ensuring consistency with your systems—mini action list
  • 4. Dealing with uncertainty
  • More...

Standard terms and conditions of purchase risk management guide

This risk management guide is intended for commercial organisations in the UK. It identifies five key priorities for managing the risks associated with standard terms and conditions of purchase and gives the heads-up on why each one is important. It includes a series of mini action lists that suggest action points for each priority area, encourage you to record your organisation’s current level of compliance.

Why you need to manage this risk

Standard terms and conditions of purchase are often seen by an organisation to be an easy way of doing business. They can be useful for an organisation when it enters into agreements as part of day-to-day operations. Their generic and pro-forma nature can be advantageous because they require fewer resources to prepare and administer than a bespoke agreement and should require little if no negotiation or management involvement.

However, consideration needs to given to the most appropriate use of standard terms and conditions because they can also present risks.

This risk management guide concentrates on standard terms and conditions for purchases of goods and/or services made between businesses. Contracts for consumers and online procurements are outside the scope of this guide.

This guide also assumes knowledge of contract law and of the standard kinds of clauses to be found in terms and conditions of purchase (offer and acceptance, warranties,

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