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  • Trust

    Trust

    • Acknowledgement of Trust (already own asset) - $165
    • Change Appointor and/or Guardian of Family Trust - $110
    • Change of Name of Family Trust - $88
    • Change Trustee of Family Trust - $110
    • Dealing with Forgiven Debts (White Paper) - $55
    • Debt Recognition (including pre-Div 7A Loans) - $33
    • Declaration of Trust (before you buy) - $99
    • Div 7A Loan Agreement - $65
    • Div 7A Loan Agreement for UPE - $55
    • Family Trust - $165
    • Family Trust - Streaming & Bamford Update - $165
    • Family Trust - Update to Allow Change of Appointor and Guardian - $165
    • Family Trust - Update to allow Sole Trustee - $55
    • Family Trust - Update to Exclude Foreign Persons (NSW) - $198
    • Family Trust - Vesting - $259
    • Forgiveness of Debt - $121
    • Opening Minutes for the Unit Trust - $33
    • Partnership Deed - $220
    • Release of Unpaid Trust Entitlement - $121
    • The new small business restructure roll-over rules in practice (White Paper) - $55
    • Trust Distribution Minutes Library for 2008/09 - $99
    • Trust Distribution Minutes Library for 2009/10 - $99
    • Trust Distribution Minutes Library for 2010/11 - $99
    • Trust Distribution Minutes Library for 2011/12 - $99
    • Trust Distribution Minutes Library for 2012/13 - Multi-Use - $350
    • Trust Distribution Minutes Library for 2012/13 - Single-Use - $110
    • Trust Distribution Minutes Library for 2013/14 - Multi-Use - $350
    • Trust Distribution Minutes Library for 2013/14 - Single-Use - $110
    • Trust Distribution Minutes Library for 2014/15 - Multi-Use - $350
    • Trust Distribution Minutes Library for 2014/15 - Single-Use - $110
    • Trust Distribution Minutes Library for 2015/16 - Multi-Use - $350
    • Trust Distribution Minutes Library for 2015/16 - Single-Use - $110
    • Trust Distribution Minutes Library for 2016/17 - Multi-Use - $350
    • Trust Distribution Minutes Library for 2016/17 - Single-Use - $110
    • Trust Distribution Minutes Library for 2017/18 - Multi-Use - $350
    • Trust Distribution Minutes Library for 2017/18 - Single-Use - $110
    • Trust Distribution Minutes Library for 2018/19 - Multi-Use - $350
    • Trust Distribution Minutes Library for 2018/19 - Single-Use - $110
    • Trust Distribution Minutes Library for 2019/20 - Multi-Use - $350
    • Trust Distribution Minutes Library for 2019/20 - Single-Use - $121
    • Trust Distribution Minutes Library for 2020/21 - Multi-Use - $350
    • Trust Distribution Minutes Library for 2020/21 - Single-Use - $121
    • Unit Trust - $149
    • Unit Trust - Add New Member Kit - $110
  • Superannuation

    Superannuation

    • Acknowledgement of Trust (already own asset) - $165
    • Commercial Lease - $250
    • Declaration of Trust (before you buy) - $99
    • Derivative Risk Statement for SMSF - $65
    • Investment Strategy for Self Managed Super 15/16 - $65
    • Investment Strategy for Self Managed Super 16/17 - $65
    • Investment Strategy for Self Managed Super 17/18 - $65
    • Investment Strategy for Self Managed Super 18/19 - $65
    • Investment Strategy for Self Managed Super 19/20 - $65
    • Investment Strategy for Self Managed Super 20/21 - $65
    • Pension Pack for Self Managed Super - $299
    • Product Disclosure Statement (general) - $66
    • Product Disclosure Statement (Pension only) - $99
    • Self Managed Superannuation Fund Deed - $149
    • SMSF - Minute to Appoint Administrator - $33
    • SMSF - Minute to Appoint an Auditor - $33
    • SMSF - Minute to Approve Financial Statements - $33
    • SMSF - Minute to Approve Financial Statements 07/08 - $33
    • SMSF - Minute to Approve Financial Statements 08/09 - $33
    • SMSF - Minute to Approve Financial Statements 09/10 - $33
    • SMSF - Minute to Insure The Members - $33
    • SMSF - Update Rules - $165
    • SMSF Limited Recourse Borrowing Arrangement - $220
    • SMSF Restricted Commercial Property Assessment - $695
    • SMSF Restricted Residential Property Assessment - $315
    • Statutory Declaration - $0
  • Estate Planning

    Estate Planning

    • Buy Sell Agreement Company - $197
    • Codicil to change the Executor - $99
    • Confidentiality Agreement (Non Disclosure) - $99
    • Debt Recognition (including pre-Div 7A Loans) - $33
    • Enduring Power of Attorney - NSW - $55
    • Enduring Power of Attorney - SA - $55
    • Enduring Power of Attorney - WA - $55
    • Enduring Power of Attorney (Financial, Personal/Health) - QLD - $55
    • Enduring Power of Guardianship - NSW - $55
    • Enduring Power of Guardianship - WA - $55
    • Power Of Attorney By Company - $99
    • Will - Married or Defacto No Children - $95
    • Will - Married or Defacto with Children - $95
    • Will - Single No Children - $110
    • Will - Single With Children - $110
  • Commercial

    Commercial

    • Advanced Legal Health Check for Businesses - $18
    • Buy a House with Friends Agreement - $110
    • Commercial Lease - $250
    • Confidentiality Agreement (Non Disclosure) - $99
    • Co-Owners Agreement - $110
    • Dealing with Forgiven Debts (White Paper) - $55
    • Debt Recognition (including pre-Div 7A Loans) - $33
    • Debt Recovery Kit - Qld - $44
    • Declaration of Trust (before you buy) - $99
    • Demand and Statement of Claim for Debt - NSW - $88
    • Demand and Summons for Debt - VIC - $88
    • Demand and Summons for Debt - WA - $88
    • Div 7A Loan Agreement - $65
    • Div 7A Loan Agreement for UPE - $55
    • Forgiveness of Debt - $121
    • Loan Agreement (No Security) - $110
    • Release of Unpaid Trust Entitlement - $121
    • Statutory Declaration - $0
    • Terms of Trade (Non ROT) - $132
    • The new small business restructure roll-over rules in practice (White Paper) - $55
  • Employment

    Employment

    • Confidentiality Agreement (Non Disclosure) - $99
    • Employment - Conduct Issues Letter - $33
    • Employment - Employee Expenses Policy - $55
    • Employment - Performance Issues Letter - $33
    • Employment - Request for Medical Information - $33
    • Employment - Termination Letter - $33
    • Employment - Transferring Employee Letter - $33
    • Employment Contract - $99
    • Independent Contractors Agreement - $99
    • Partnership Deed - $220
    • Statutory Declaration - $0
  • Company

    Company

    • Acknowledgement of Trust (already own asset) - $165
    • Adopt Committee Recommendations kit - $33
    • Appoint a Committee kit - $33
    • Appoint an Alternate Director kit - $33
    • Appoint Managing Director & Confer Powers kit - $33
    • Buy a House with Friends Agreement - $110
    • Buy Sell Agreement Company - $197
    • Change Registered Office kit - $33
    • Commercial Lease - $250
    • Company (ELodgement) - $631
    • Company Constitution Update - $99
    • Confidentiality Agreement (Non Disclosure) - $99
    • Co-Owners Agreement - $110
    • Debt Recognition (including pre-Div 7A Loans) - $33
    • Declaration of Trust (before you buy) - $99
    • Demand and Statement of Claim for Debt - NSW - $88
    • Demand and Summons for Debt - VIC - $88
    • Demand and Summons for Debt - WA - $88
    • Director‘s Indemnity Agreement - Compulsory Insurance - $197
    • Director‘s Indemnity Agreement - No Insurance - $197
    • Directors Conflict of Interest Kit - $44
    • Div 7A Loan Agreement - $65
    • Div 7A Loan Agreement for UPE - $55
    • Employment Contract - $99
    • Family Trust - Vesting - $259
    • Forgiveness of Debt - $121
    • Independent Contractors Agreement - $99
    • Loan Agreement (No Security) - $110
    • Minutes for Members to Inspect Books - $33
    • Minutes for Resigning Director - $33
    • Opening Minutes for the Unit Trust - $33
    • Partnership Deed - $220
    • Power Of Attorney By Company - $99
    • Release of Unpaid Trust Entitlement - $121
    • Remove a Managing Director kit - $33
    • Remove and Replace a Director kit - $44
    • Replace Company Secretary kit - $44
    • Self Managed Superannuation Fund Deed - $149
    • Statutory Declaration - $0
    • Terms of Trade (Non ROT) - $132
    • Transfer of Shares Kit - $0
    • Unit Trust - $149
    • Unit Trust - Add New Member Kit - $110
  • Webinars

    Webinars

    • Webinar On Demand - Fixing Family Trust Deeds - Mistakes made pre and post establishing a Trust - $99
    • Webinar On Demand - How to assist clients with their debt issues - $99
    • Webinar On Demand - Introduction to Family Trusts - the basics - $99
    • Webinar On Demand - Lawyers and Accountants Duties as Executors - $99
    • Webinar On Demand - Testamentary Trusts 101 - $99
    • Webinar On Demand - Three Pillars of an Effective Asset Protection Strategy - $99
  • All documents

    All documents

    • Acknowledgement of Trust (already own asset) - $165
    • Adopt Committee Recommendations kit - $33
    • Advanced Legal Health Check for Businesses - $18
    • Appoint a Committee kit - $33
    • Appoint an Alternate Director kit - $33
    • Appoint Managing Director & Confer Powers kit - $33
    • Buy a House with Friends Agreement - $110
    • Buy Sell Agreement Company - $197
    • Change Appointor and/or Guardian of Family Trust - $110
    • Change of Name of Family Trust - $88
    • Change Registered Office kit - $33
    • Change Trustee of Family Trust - $110
    • Codicil to change the Executor - $99
    • Commercial Lease - $250
    • Company (ELodgement) - $631
    • Company Constitution Update - $99
    • Confidentiality Agreement (Non Disclosure) - $99
    • Co-Owners Agreement - $110
    • Dealing with Forgiven Debts (White Paper) - $55
    • Debt Recognition (including pre-Div 7A Loans) - $33
    • Debt Recovery Kit - Qld - $44
    • Declaration of Trust (before you buy) - $99
    • Demand and Statement of Claim for Debt - NSW - $88
    • Demand and Summons for Debt - VIC - $88
    • Demand and Summons for Debt - WA - $88
    • Derivative Risk Statement for SMSF - $65
    • Director‘s Indemnity Agreement - Compulsory Insurance - $197
    • Director‘s Indemnity Agreement - No Insurance - $197
    • Directors Conflict of Interest Kit - $44
    • Disclaimer - Email - $55
    • Div 7A Loan Agreement - $65
    • Div 7A Loan Agreement for UPE - $55
    • Employment - Conduct Issues Letter - $33
    • Employment - Employee Expenses Policy - $55
    • Employment - Performance Issues Letter - $33
    • Employment - Request for Medical Information - $33
    • Employment - Termination Letter - $33
    • Employment - Transferring Employee Letter - $33
    • Employment Contract - $99
    • Enduring Power of Attorney - NSW - $55
    • Enduring Power of Attorney - SA - $55
    • Enduring Power of Attorney - WA - $55
    • Enduring Power of Attorney (Financial, Personal/Health) - QLD - $55
    • Enduring Power of Guardianship - NSW - $55
    • Enduring Power of Guardianship - WA - $55
    • Family Trust - $165
    • Family Trust - Streaming & Bamford Update - $165
    • Family Trust - Update to Allow Change of Appointor and Guardian - $165
    • Family Trust - Update to allow Sole Trustee - $55
    • Family Trust - Update to Exclude Foreign Persons (NSW) - $198
    • Family Trust - Vesting - $259
    • Forgiveness of Debt - $121
    • Independent Contractors Agreement - $99
    • Investment Strategy for Self Managed Super 15/16 - $65
    • Investment Strategy for Self Managed Super 16/17 - $65
    • Investment Strategy for Self Managed Super 17/18 - $65
    • Investment Strategy for Self Managed Super 18/19 - $65
    • Investment Strategy for Self Managed Super 19/20 - $65
    • Investment Strategy for Self Managed Super 20/21 - $65
    • Loan Agreement (No Security) - $110
    • Minutes for Members to Inspect Books - $33
    • Minutes for Resigning Director - $33
    • Opening Minutes for the Unit Trust - $33
    • Partnership Deed - $220
    • Pension Pack for Self Managed Super - $299
    • Power Of Attorney By Company - $99
    • Product Disclosure Statement (general) - $66
    • Product Disclosure Statement (Pension only) - $99
    • Release of Unpaid Trust Entitlement - $121
    • Remove a Managing Director kit - $33
    • Remove and Replace a Director kit - $44
    • Replace Company Secretary kit - $44
    • Self Managed Superannuation Fund Deed - $149
    • SMSF - Minute to Appoint Administrator - $33
    • SMSF - Minute to Appoint an Auditor - $33
    • SMSF - Minute to Approve Financial Statements - $33
    • SMSF - Minute to Approve Financial Statements 07/08 - $33
    • SMSF - Minute to Approve Financial Statements 08/09 - $33
    • SMSF - Minute to Approve Financial Statements 09/10 - $33
    • SMSF - Minute to Insure The Members - $33
    • SMSF - Update Rules - $165
    • SMSF Limited Recourse Borrowing Arrangement - $220
    • SMSF Restricted Commercial Property Assessment - $695
    • SMSF Restricted Residential Property Assessment - $315
    • SMSF Subscription - $99
    • Statutory Declaration - $0
    • Terms of Trade (Non ROT) - $132
    • The new small business restructure roll-over rules in practice (White Paper) - $55
    • Transfer of Shares Kit - $0
    • Trust Distribution Minutes Library for 2008/09 - $99
    • Trust Distribution Minutes Library for 2009/10 - $99
    • Trust Distribution Minutes Library for 2010/11 - $99
    • Trust Distribution Minutes Library for 2011/12 - $99
    • Trust Distribution Minutes Library for 2012/13 - Multi-Use - $350
    • Trust Distribution Minutes Library for 2012/13 - Single-Use - $110
    • Trust Distribution Minutes Library for 2013/14 - Multi-Use - $350
    • Trust Distribution Minutes Library for 2013/14 - Single-Use - $110
    • Trust Distribution Minutes Library for 2014/15 - Multi-Use - $350
    • Trust Distribution Minutes Library for 2014/15 - Single-Use - $110
    • Trust Distribution Minutes Library for 2015/16 - Multi-Use - $350
    • Trust Distribution Minutes Library for 2015/16 - Single-Use - $110
    • Trust Distribution Minutes Library for 2016/17 - Multi-Use - $350
    • Trust Distribution Minutes Library for 2016/17 - Single-Use - $110
    • Trust Distribution Minutes Library for 2017/18 - Multi-Use - $350
    • Trust Distribution Minutes Library for 2017/18 - Single-Use - $110
    • Trust Distribution Minutes Library for 2018/19 - Multi-Use - $350
    • Trust Distribution Minutes Library for 2018/19 - Single-Use - $110
    • Trust Distribution Minutes Library for 2019/20 - Multi-Use - $350
    • Trust Distribution Minutes Library for 2019/20 - Single-Use - $121
    • Trust Distribution Minutes Library for 2020/21 - Multi-Use - $350
    • Trust Distribution Minutes Library for 2020/21 - Single-Use - $121
    • Unit Trust - $149
    • Unit Trust - Add New Member Kit - $110
    • Webinar On Demand - Fixing Family Trust Deeds - Mistakes made pre and post establishing a Trust - $99
    • Webinar On Demand - How to assist clients with their debt issues - $99
    • Webinar On Demand - Introduction to Family Trusts - the basics - $99
    • Webinar On Demand - Lawyers and Accountants Duties as Executors - $99
    • Webinar On Demand - Testamentary Trusts 101 - $99
    • Webinar On Demand - Three Pillars of an Effective Asset Protection Strategy - $99
    • Website Terms And Conditions - $99
    • Will - Married or Defacto No Children - $95
    • Will - Married or Defacto with Children - $95
    • Will - Single No Children - $110
    • Will - Single With Children - $110
  • Bulletin

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Terms of Trade (Non ROT)

Terms of Trade (Non ROT)

Price ($AUD): $132
Platinum Price ($AUD): $120 [?]

Estimated Time to Build: 5 - 12 Minutes
Jurisdiction: Australia Wide

 
  • Overview
  • Checklist
  • Sample
  • Legal Tutor
  • Author
  • All providers of goods and services should have clearly written terms of trade. These terms should cover fundamental matters such as:
    • the price of the goods or the fee for the service, including payment terms;
    • the right for the supplier to recover interest and costs if the customer doesn’t pay;
    • the extent of the supplier’s liability if there is a problem;
    • default and termination; and
    • what law will apply.
    Providing detailed terms of trade upfront can help to avoid costly disputes later on.

    These terms of trade do not contain a retention of title (RoT) clause. A RoT clause provides that the title to the goods remains vested in the supplier until certain obligations (usually payment of the purchase price) are fulfilled by the customer. The main purpose of a RoT clause is to provide the supplier with the means to repossess unpaid goods where the customer goes into liquidation or bankruptcy.
  • Checklist is not available for this document.

  • Sample is not available for this document.

    • Supplier Details
      • What are “terms of trade” or “trading terms”?
      • Supplier Details
      • Can I insert a business name as a party to the Agreement?
      • What is an ACN?
      • What if I don’t have an ACN?
      Supplier Human/Company Details
      • What are “terms of trade” or “trading terms”?
      • Supplier Details
      • Can I insert a business name as a party to the Agreement?
      • What is an ACN?
      • What if I don’t have an ACN?
      Supplier Trust Details
      • What are “terms of trade” or “trading terms”?
      • Supplier Details
      • Can I insert a business name as a party to the Agreement?
      • What is an ACN?
      • What if I don’t have an ACN?
      Supplier Trustee Details
      • What are “terms of trade” or “trading terms”?
      • Supplier Details
      • Can I insert a business name as a party to the Agreement?
      • What is an ACN?
      • What if I don’t have an ACN?
      Supplier Partnership Details
      • What are “terms of trade” or “trading terms”?
      • Supplier Details
      • Can I insert a business name as a party to the Agreement?
      • What is an ACN?
      • What if I don’t have an ACN?
      Supplier's Business Name
      • What is a business/trading name?
      • What are “terms of trade” or “trading terms”?
      Customer's Details
      • What are “terms of trade” or “trading terms”?
      • Customer Details
      • Can I insert a business name as a party to the Agreement?
      • What is an ACN?
      • What if my Customer doesn't have an ACN?
      Customer Human / Company Details
      • What are “terms of trade” or “trading terms”?
      • Customer Details
      • Can I insert a business name as a party to the Agreement?
      • What is an ACN?
      • What if my Customer doesn't have an ACN?
      Customer Trust Details
      • What are “terms of trade” or “trading terms”?
      • Customer Details
      • Can I insert a business name as a party to the Agreement?
      • What is an ACN?
      • What if my Customer doesn't have an ACN?
      Customer Trustee Details
      • What are “terms of trade” or “trading terms”?
      • Customer Details
      • Can I insert a business name as a party to the Agreement?
      • What is an ACN?
      • What if my Customer doesn't have an ACN?
      Customer Partnership Details
      • What are “terms of trade” or “trading terms”?
      • Customer Details
      • Can I insert a business name as a party to the Agreement?
      • What is an ACN?
      • What if my Customer doesn't have an ACN?
      Goods/Services
      • What are “terms of trade” or “trading terms”?
      Payment
      • What are “terms of trade” or “trading terms”?
      Credit Check
      • What is credit?
      • Do I need the Customer’s permission to do a credit check?
      Guarantee
      • What is a guarantee?
      • What is an indemnity?
      • Why is a guarantee and indemnity clause important?
      Jurisdiction
      • What are terms of trade or trading terms?
      Retention of Title
      • What is a retention of title (RoT) clause?

      Supplier Details

      • What are “terms of trade” or “trading terms”?

        These are the standard terms and conditions which apply to the supply of any goods and/or services by the Supplier. They usually cover fundamental matters such as:

        • the price of the goods or the fee for the service, including payment terms;
        • the right for the supplier to recover interest and costs if the customer doesn’t pay;
        • the extent of the supplier’s liability if there is a problem;
        • default and termination; and
        • what law will apply.

        These terms of trade do not contain a retention of title (RoT) clause. A RoT clause provides that the title to the goods remains vested in the supplier until certain obligations (usually payment of the purchase price) are fulfilled by the customer. The main purpose of a RoT clause is to provide the supplier with the means to repossess unpaid goods where the customer goes into liquidation or bankruptcy.

        This hint is provided by Law Central Legal.


        #

      • Supplier Details

        The Supplier is the person(s) or company that will supply goods and/or services to the Customer.

        If the Supplier is Human / Human Trustee: insert the Supplier’s first name into the First Name field, the Supplier’s middle name into the Middle Name field and the Supplier’s surname into the Last Name field.

        (Eg: Fred John Smith)

        If the Supplier is a Company / Company Trustee: insert the name of the Company into the Company Name field.

        Insert the ACN (Australian Company Number) or ABN (Australian Business Number) into the ACN/ABN field.

        (Eg: “Olympus Pty Ltd ACN 123 456 789”)


        If the Supplier is a partnership: insert the full name of the first human partner (or the name of the first company if each partner is a company) into the relevant field, then click “Add” to add another partner. The words “(a firm)” will automatically be inserted into the terms of trade (“Agreement”).

        (Eg: “Dr James Smith and Dr Eli Gabby (a firm)”)

        This hint is provided by Law Central Legal.


        #

      • Can I insert a business name as a party to the Agreement?

        No. Only legal entities like a human, company or incorporated association can be a party to the Agreement.

        (Eg: Olympus Pty Ltd trading as Olympus Seafood. “Olympus Seafood” is a business name, whilst “Olympus Pty Ltd” is the legal entity capable of entering into contracts).

        This hint is provided by Law Central Legal.


        #

      • What is an ACN?

        Under the Corporations Act 2001 (Cth), every company in Australia has been issued with a unique nine-digit number known as an Australian Company Number (ACN), which must be shown on a range of documents. The purpose of the ACN is to ensure adequate identification of companies when transacting business. New companies are issued with numbers by the Australian Securities & Investments Commission (ASIC) upon registration.

        A company’s ACN should appear on all of its “public documents” and “eligible negotiable instruments,” including but not limited to the following:

        • all documents required to be lodged with ASIC;
        • statements of account, including invoices;
        • receipts (which are not machine-produced);
        • orders for goods and services;
        • business letterheads;
        • official company notices;
        • cheques, promissory notes and bills of exchange;and
        • written advertisements making a specific offer which is capable of being accepted (such as by the completion of an order form).

        This hint is provided by Law Central Legal.


        #

      • What if I don’t have an ACN?

        If you do not have an ACN, then you can insert your Australian business number (ABN) into the ACN/ABN field.

        The Australian business number (ABN) is a unique 11 digit identifier that makes it easier for businesses and all levels of government to interact.

        It is not compulsory to have an ABN, but it is an essential component for businesses to operate within the goods and services (GST) system. If you are registered for GST, you will need to put your ABN on your invoices to make them “tax invoices”.

        This hint is provided by Law Central Legal.


        #

      Supplier Human/Company Details

      • What are “terms of trade” or “trading terms”?

        These are the standard terms and conditions which apply to the supply of any goods and/or services by the Supplier. They usually cover fundamental matters such as:

        • the price of the goods or the fee for the service, including payment terms;
        • the right for the supplier to recover interest and costs if the customer doesn’t pay;
        • the extent of the supplier’s liability if there is a problem;
        • default and termination; and
        • what law will apply.
        These terms of trade do not contain a retention of title (RoT) clause. A RoT clause provides that the title to the goods remains vested in the supplier until certain obligations (usually payment of the purchase price) are fulfilled by the customer. The main purpose of a RoT clause is to provide the supplier with the means to repossess unpaid goods where the customer goes into liquidation or bankruptcy.

        This hint is provided by Law Central Legal.


        #

      • Supplier Details

        The Supplier is the person(s) or company that will supply goods and/or services to the Customer.

        If the Supplier is Human / Human Trustee: insert the Supplier’s first name into the First Name field, the Supplier’s middle name into the Middle Name field and the Supplier’s surname into the Last Name field.

        (Eg: Fred John Smith)

        If the Supplier is a Company / Company Trustee: insert the name of the Company into the Company Name field.

        Insert the ACN (Australian Company Number) or ABN (Australian Business Number) into the ACN/ABN field.

        (Eg: “Olympus Pty Ltd ACN 123 456 789”)


        If the Supplier is a partnership: insert the full name of the first human partner (or the name of the first company if each partner is a company) into the relevant field, then click “Add” to add another partner. The words “(a firm)” will automatically be inserted into the terms of trade (“Agreement”).

        (Eg: “Dr James Smith and Dr Eli Gabby (a firm)”)

        This hint is provided by Law Central Legal.


        #

      • Can I insert a business name as a party to the Agreement?

        No. Only legal entities like a human, company or incorporated association can be a party to the Agreement.

        (Eg: Olympus Pty Ltd trading as Olympus Seafood. “Olympus Seafood” is a business name, whilst “Olympus Pty Ltd” is the legal entity capable of entering into contracts).

        This hint is provided by Law Central Legal.


        #

      • What is an ACN?

        Under the Corporations Act 2001 (Cth), every company in Australia has been issued with a unique nine-digit number known as an Australian Company Number (ACN), which must be shown on a range of documents. The purpose of the ACN is to ensure adequate identification of companies when transacting business. New companies are issued with numbers by the Australian Securities & Investments Commission (ASIC) upon registration.

        A company’s ACN should appear on all of its “public documents” and “eligible negotiable instruments,” including but not limited to the following:

        • all documents required to be lodged with ASIC;
        • statements of account, including invoices;
        • receipts (which are not machine-produced);
        • orders for goods and services;
        • business letterheads;
        • official company notices;
        • cheques, promissory notes and bills of exchange;and
        • written advertisements making a specific offer which is capable of being accepted (such as by the completion of an order form).

        This hint is provided by Law Central Legal.


        #

      • What if I don’t have an ACN?

        If you do not have an ACN, then you can insert your Australian business number (ABN) into the ACN/ABN field.

        The Australian business number (ABN) is a unique 11 digit identifier that makes it easier for businesses and all levels of government to interact.

        It is not compulsory to have an ABN, but it is an essential component for businesses to operate within the goods and services (GST) system. If you are registered for GST, you will need to put your ABN on your invoices to make them “tax invoices”.

        This hint is provided by Law Central Legal.


        #

      Supplier Trust Details

      • What are “terms of trade” or “trading terms”?

        These are the standard terms and conditions which apply to the supply of any goods and/or services by the Supplier. They usually cover fundamental matters such as:

        • the price of the goods or the fee for the service, including payment terms;
        • the right for the supplier to recover interest and costs if the customer doesn’t pay;
        • the extent of the supplier’s liability if there is a problem;
        • default and termination; and
        • what law will apply.

        These terms of trade do not contain a retention of title (RoT) clause. A RoT clause provides that the title to the goods remains vested in the supplier until certain obligations (usually payment of the purchase price) are fulfilled by the customer. The main purpose of a RoT clause is to provide the supplier with the means to repossess unpaid goods where the customer goes into liquidation or bankruptcy.

        This hint is provided by Law Central Legal.


        #

      • Supplier Details

        The Supplier is the person(s) or company that will supply goods and/or services to the Customer.

        If the Supplier is Human / Human Trustee: insert the Supplier’s first name into the First Name field, the Supplier’s middle name into the Middle Name field and the Supplier’s surname into the Last Name field.

        (Eg: Fred John Smith)

        If the Supplier is a Company / Company Trustee: insert the name of the Company into the Company Name field.

        Insert the ACN (Australian Company Number) or ABN (Australian Business Number) into the ACN/ABN field.

        (Eg: “Olympus Pty Ltd ACN 123 456 789”)


        If the Supplier is a partnership: insert the full name of the first human partner (or the name of the first company if each partner is a company) into the relevant field, then click “Add” to add another partner. The words “(a firm)” will automatically be inserted into the terms of trade (“Agreement”).

        (Eg: “Dr James Smith and Dr Eli Gabby (a firm)”)

        This hint is provided by Law Central Legal.


        #

      • Can I insert a business name as a party to the Agreement?

        No. Only legal entities like a human, company or incorporated association can be a party to the Agreement.

        (Eg: Olympus Pty Ltd trading as Olympus Seafood. “Olympus Seafood” is a business name, whilst “Olympus Pty Ltd” is the legal entity capable of entering into contracts).

        This hint is provided by Law Central Legal.


        #

      • What is an ACN?

        Under the Corporations Act 2001 (Cth), every company in Australia has been issued with a unique nine-digit number known as an Australian Company Number (ACN), which must be shown on a range of documents. The purpose of the ACN is to ensure adequate identification of companies when transacting business. New companies are issued with numbers by the Australian Securities & Investments Commission (ASIC) upon registration.

        A company’s ACN should appear on all of its “public documents” and “eligible negotiable instruments,” including but not limited to the following:

        • all documents required to be lodged with ASIC;
        • statements of account, including invoices;
        • receipts (which are not machine-produced);
        • orders for goods and services;
        • business letterheads;
        • official company notices;
        • cheques, promissory notes and bills of exchange;and
        • written advertisements making a specific offer which is capable of being accepted (such as by the completion of an order form).

        This hint is provided by Law Central Legal.


        #

      • What if I don’t have an ACN?

        If you do not have an ACN, then you can insert your Australian business number (ABN) into the ACN/ABN field.

        The Australian business number (ABN) is a unique 11 digit identifier that makes it easier for businesses and all levels of government to interact.

        It is not compulsory to have an ABN, but it is an essential component for businesses to operate within the goods and services (GST) system. If you are registered for GST, you will need to put your ABN on your invoices to make them “tax invoices”.

        This hint is provided by Law Central Legal.


        #

      Supplier Trustee Details

      • What are “terms of trade” or “trading terms”?

        These are the standard terms and conditions which apply to the supply of any goods and/or services by the Supplier. They usually cover fundamental matters such as:

        • the price of the goods or the fee for the service, including payment terms;
        • the right for the supplier to recover interest and costs if the customer doesn’t pay;
        • the extent of the supplier’s liability if there is a problem;
        • default and termination; and
        • what law will apply.

        These terms of trade do not contain a retention of title (RoT) clause. A RoT clause provides that the title to the goods remains vested in the supplier until certain obligations (usually payment of the purchase price) are fulfilled by the customer. The main purpose of a RoT clause is to provide the supplier with the means to repossess unpaid goods where the customer goes into liquidation or bankruptcy.

        This hint is provided by Law Central Legal.


        #

      • Supplier Details

        The Supplier is the person(s) or company that will supply goods and/or services to the Customer.

        If the Supplier is Human / Human Trustee: insert the Supplier’s first name into the First Name field, the Supplier’s middle name into the Middle Name field and the Supplier’s surname into the Last Name field.

        (Eg: Fred John Smith)

        If the Supplier is a Company / Company Trustee: insert the name of the Company into the Company Name field.

        Insert the ACN (Australian Company Number) or ABN (Australian Business Number) into the ACN/ABN field.

        (Eg: “Olympus Pty Ltd ACN 123 456 789”)


        If the Supplier is a partnership: insert the full name of the first human partner (or the name of the first company if each partner is a company) into the relevant field, then click “Add” to add another partner. The words “(a firm)” will automatically be inserted into the terms of trade (“Agreement”).

        (Eg: “Dr James Smith and Dr Eli Gabby (a firm)”)

        This hint is provided by Law Central Legal.


        #

      • Can I insert a business name as a party to the Agreement?

        No. Only legal entities like a human, company or incorporated association can be a party to the Agreement.

        (Eg: Olympus Pty Ltd trading as Olympus Seafood. “Olympus Seafood” is a business name, whilst “Olympus Pty Ltd” is the legal entity capable of entering into contracts).

        This hint is provided by Law Central Legal.


        #

      • What is an ACN?

        Under the Corporations Act 2001 (Cth), every company in Australia has been issued with a unique nine-digit number known as an Australian Company Number (ACN), which must be shown on a range of documents. The purpose of the ACN is to ensure adequate identification of companies when transacting business. New companies are issued with numbers by the Australian Securities & Investments Commission (ASIC) upon registration.

        A company’s ACN should appear on all of its “public documents” and “eligible negotiable instruments,” including but not limited to the following:

        • all documents required to be lodged with ASIC;
        • statements of account, including invoices;
        • receipts (which are not machine-produced);
        • orders for goods and services;
        • business letterheads;
        • official company notices;
        • cheques, promissory notes and bills of exchange;and
        • written advertisements making a specific offer which is capable of being accepted (such as by the completion of an order form).

        This hint is provided by Law Central Legal.


        #

      • What if I don’t have an ACN?

        If you do not have an ACN, then you can insert your Australian business number (ABN) into the ACN/ABN field.

        The Australian business number (ABN) is a unique 11 digit identifier that makes it easier for businesses and all levels of government to interact.

        It is not compulsory to have an ABN, but it is an essential component for businesses to operate within the goods and services (GST) system. If you are registered for GST, you will need to put your ABN on your invoices to make them “tax invoices”.

        This hint is provided by Law Central Legal.


        #

      Supplier Partnership Details

      • What are “terms of trade” or “trading terms”?

        These are the standard terms and conditions which apply to the supply of any goods and/or services by the Supplier. They usually cover fundamental matters such as:

        • the price of the goods or the fee for the service, including payment terms;
        • the right for the supplier to recover interest and costs if the customer doesn’t pay;
        • the extent of the supplier’s liability if there is a problem;
        • default and termination; and
        • what law will apply.

        These terms of trade do not contain a retention of title (RoT) clause. A RoT clause provides that the title to the goods remains vested in the supplier until certain obligations (usually payment of the purchase price) are fulfilled by the customer. The main purpose of a RoT clause is to provide the supplier with the means to repossess unpaid goods where the customer goes into liquidation or bankruptcy.

        This hint is provided by Law Central Legal.


        #

      • Supplier Details

        The Supplier is the person(s) or company that will supply goods and/or services to the Customer.

        If the Supplier is Human / Human Trustee: insert the Supplier’s first name into the First Name field, the Supplier’s middle name into the Middle Name field and the Supplier’s surname into the Last Name field.

        (Eg: Fred John Smith)

        If the Supplier is a Company / Company Trustee: insert the name of the Company into the Company Name field.

        Insert the ACN (Australian Company Number) or ABN (Australian Business Number) into the ACN/ABN field.

        (Eg: “Olympus Pty Ltd ACN 123 456 789”)


        If the Supplier is a partnership: insert the full name of the first human partner (or the name of the first company if each partner is a company) into the relevant field, then click “Add” to add another partner. The words “(a firm)” will automatically be inserted into the terms of trade (“Agreement”).

        (Eg: “Dr James Smith and Dr Eli Gabby (a firm)”)

        This hint is provided by Law Central Legal.


        #

      • Can I insert a business name as a party to the Agreement?

        No. Only legal entities like a human, company or incorporated association can be a party to the Agreement.

        (Eg: Olympus Pty Ltd trading as Olympus Seafood. “Olympus Seafood” is a business name, whilst “Olympus Pty Ltd” is the legal entity capable of entering into contracts).

        This hint is provided by Law Central Legal.


        #

      • What is an ACN?

        Under the Corporations Act 2001 (Cth), every company in Australia has been issued with a unique nine-digit number known as an Australian Company Number (ACN), which must be shown on a range of documents. The purpose of the ACN is to ensure adequate identification of companies when transacting business. New companies are issued with numbers by the Australian Securities & Investments Commission (ASIC) upon registration.

        A company’s ACN should appear on all of its “public documents” and “eligible negotiable instruments,” including but not limited to the following:

        • all documents required to be lodged with ASIC;
        • statements of account, including invoices;
        • receipts (which are not machine-produced);
        • orders for goods and services;
        • business letterheads;
        • official company notices;
        • cheques, promissory notes and bills of exchange;and
        • written advertisements making a specific offer which is capable of being accepted (such as by the completion of an order form).

        This hint is provided by Law Central Legal.


        #

      • What if I don’t have an ACN?

        If you do not have an ACN, then you can insert your Australian business number (ABN) into the ACN/ABN field.

        The Australian business number (ABN) is a unique 11 digit identifier that makes it easier for businesses and all levels of government to interact.

        It is not compulsory to have an ABN, but it is an essential component for businesses to operate within the goods and services (GST) system. If you are registered for GST, you will need to put your ABN on your invoices to make them “tax invoices”.

        This hint is provided by Law Central Legal.


        #

      Supplier's Business Name

      • What is a business/trading name?

        A business name is simply a name or title under which a person or entity conducts a business.

        Eg: Olympus Pty Ltd trading as Olympus Seafood. “Olympus Seafood” is a business name, whilst “Olympus Pty Ltd” is the legal entity capable of entering into contracts.

        This hint is provided by Law Central Legal.


        #

      • What are “terms of trade” or “trading terms”?

        These are the standard terms and conditions which apply to the supply of any goods and/or services by the Supplier. They usually cover fundamental matters such as:

        • the price of the goods or the fee for the service, including payment terms;
        • the right for the supplier to recover interest and costs if the customer doesn’t pay;
        • the extent of the supplier’s liability if there is a problem;
        • default and termination; and
        • what law will apply.
        These terms of trade do not contain a retention of title (RoT) clause. A RoT clause provides that the title to the goods remains vested in the supplier until certain obligations (usually payment of the purchase price) are fulfilled by the customer. The main purpose of a RoT clause is to provide the supplier with the means to repossess unpaid goods where the customer goes into liquidation or bankruptcy.

        This hint is provided by Law Central Legal.


        #

      Customer's Details

      • What are “terms of trade” or “trading terms”?

        These are the standard terms and conditions which apply to the supply of any goods and/or services by the Supplier. They usually cover fundamental matters such as:

        • the price of the goods or the fee for the service, including payment terms;
        • the right for the supplier to recover interest and costs if the customer doesn’t pay;
        • the extent of the supplier’s liability if there is a problem;
        • default and termination; and
        • what law will apply.

        These terms of trade do not contain a retention of title (RoT) clause. A RoT clause provides that the title to the goods remains vested in the supplier until certain obligations (usually payment of the purchase price) are fulfilled by the customer. The main purpose of a RoT clause is to provide the supplier with the means to repossess unpaid goods where the customer goes into liquidation or bankruptcy.

        This hint is provided by Law Central Legal.


        #

      • Customer Details

        The Customer is the person(s) or company that receives goods and/or services from the Supplier.

        If the Customer is Human / Human Trustee: insert the Customer’s first name into the First Name field, the Customer’s middle name into the Middle Name field and the Customer’s surname into the Last Name field.

        (Eg: Fred John Smith)

        If the Customer is a Company / Company Trustee: insert the name of the Company into the Company Name field.

        Insert the ACN (Australian Company Number) or ABN (Australian Business Number) into the ACN/ABN field.

        (Eg: “Olympus Pty Ltd ACN 123 456 789”)


        If the Customer is a partnership: insert the full name of the first human partner (or the name of the first company if each partner is a company) into the relevant field, then click “Add” to add another partner. The words “(a firm)” will automatically be inserted into the Agreement.


        (Eg: “Dr James Smith and Dr Eli Gabby (a firm)”)

        This hint is provided by Law Central Legal.


        #

      • Can I insert a business name as a party to the Agreement?

        No. Only legal entities like a human, company or incorporated association can be a party to the Agreement.

        (Eg: Olympus Pty Ltd trading as Olympus Seafood. “Olympus Seafood” is a business name, whilst “Olympus Pty Ltd” is the legal entity capable of entering into contracts).

        This hint is provided by Law Central Legal.


        #

      • What is an ACN?

        Under the Corporations Act 2001 (Cth), every company in Australia has been issued with a unique nine-digit number known as an Australian Company Number (ACN), which must be shown on a range of documents. The purpose of the ACN is to ensure adequate identification of companies when transacting business. New companies are issued with numbers by the Australian Securities & Investments Commission (ASIC) upon registration.

        A company’s ACN should appear on all of its “public documents” and “eligible negotiable instruments,” including but not limited to the following:

        • all documents required to be lodged with ASIC;
        • statements of account, including invoices;
        • receipts (which are not machine-produced);
        • orders for goods and services;
        • business letterheads;
        • official company notices;
        • cheques, promissory notes and bills of exchange;and
        • written advertisements making a specific offer which is capable of being accepted (such as by the completion of an order form).

        This hint is provided by Law Central Legal.


        #

      • What if my Customer doesn't have an ACN?

        If your Customer does not have an ACN, then you can insert their Australian business number (ABN) into the ACN/ABN field.

        The Australian business number (ABN) is a unique 11 digit identifier that makes it easier for businesses and all levels of government to interact.

        It is not compulsory to have an ABN, but it is an essential component for businesses to operate within the goods and services (GST) system.

        This hint is provided by Law Central Legal.


        #

      Customer Human / Company Details

      • What are “terms of trade” or “trading terms”?

        These are the standard terms and conditions which apply to the supply of any goods and/or services by the Supplier. They usually cover fundamental matters such as:

        • the price of the goods or the fee for the service, including payment terms;
        • the right for the supplier to recover interest and costs if the customer doesn’t pay;
        • the extent of the supplier’s liability if there is a problem;
        • default and termination; and
        • what law will apply.

        These terms of trade do not contain a retention of title (RoT) clause. A RoT clause provides that the title to the goods remains vested in the supplier until certain obligations (usually payment of the purchase price) are fulfilled by the customer. The main purpose of a RoT clause is to provide the supplier with the means to repossess unpaid goods where the customer goes into liquidation or bankruptcy.

        This hint is provided by Law Central Legal.


        #

      • Customer Details

        The Customer is the person(s) or company that receives goods and/or services from the Supplier.

        If the Customer is Human / Human Trustee: insert the Customer’s first name into the First Name field, the Customer’s middle name into the Middle Name field and the Customer’s surname into the Last Name field.

        (Eg: Fred John Smith)

        If the Customer is a Company / Company Trustee: insert the name of the Company into the Company Name field.

        Insert the ACN (Australian Company Number) or ABN (Australian Business Number) into the ACN/ABN field.

        (Eg: “Olympus Pty Ltd ACN 123 456 789”)


        If the Customer is a partnership: insert the full name of the first human partner (or the name of the first company if each partner is a company) into the relevant field, then click “Add” to add another partner. The words “(a firm)” will automatically be inserted into the Agreement.


        (Eg: “Dr James Smith and Dr Eli Gabby (a firm)”)

        This hint is provided by Law Central Legal.


        #

      • Can I insert a business name as a party to the Agreement?

        No. Only legal entities like a human, company or incorporated association can be a party to the Agreement.

        (Eg: Olympus Pty Ltd trading as Olympus Seafood. “Olympus Seafood” is a business name, whilst “Olympus Pty Ltd” is the legal entity capable of entering into contracts).

        This hint is provided by Law Central Legal.


        #

      • What is an ACN?

        Under the Corporations Act 2001 (Cth), every company in Australia has been issued with a unique nine-digit number known as an Australian Company Number (ACN), which must be shown on a range of documents. The purpose of the ACN is to ensure adequate identification of companies when transacting business. New companies are issued with numbers by the Australian Securities & Investments Commission (ASIC) upon registration.

        A company’s ACN should appear on all of its “public documents” and “eligible negotiable instruments,” including but not limited to the following:

        • all documents required to be lodged with ASIC;
        • statements of account, including invoices;
        • receipts (which are not machine-produced);
        • orders for goods and services;
        • business letterheads;
        • official company notices;
        • cheques, promissory notes and bills of exchange;and
        • written advertisements making a specific offer which is capable of being accepted (such as by the completion of an order form).

        This hint is provided by Law Central Legal.


        #

      • What if my Customer doesn't have an ACN?

        If your Customer does not have an ACN, then you can insert their Australian business number (ABN) into the ACN/ABN field.

        The Australian business number (ABN) is a unique 11 digit identifier that makes it easier for businesses and all levels of government to interact.

        It is not compulsory to have an ABN, but it is an essential component for businesses to operate within the goods and services (GST) system.

        This hint is provided by Law Central Legal.


        #

      Customer Trust Details

      • What are “terms of trade” or “trading terms”?

        These are the standard terms and conditions which apply to the supply of any goods and/or services by the Supplier. They usually cover fundamental matters such as:

        • the price of the goods or the fee for the service, including payment terms;
        • the right for the supplier to recover interest and costs if the customer doesn’t pay;
        • the extent of the supplier’s liability if there is a problem;
        • default and termination; and
        • what law will apply.

        These terms of trade do not contain a retention of title (RoT) clause. A RoT clause provides that the title to the goods remains vested in the supplier until certain obligations (usually payment of the purchase price) are fulfilled by the customer. The main purpose of a RoT clause is to provide the supplier with the means to repossess unpaid goods where the customer goes into liquidation or bankruptcy.

        This hint is provided by Law Central Legal.


        #

      • Customer Details

        The Customer is the person(s) or company that receives goods and/or services from the Supplier.

        If the Customer is Human / Human Trustee: insert the Customer’s first name into the First Name field, the Customer’s middle name into the Middle Name field and the Customer’s surname into the Last Name field.

        (Eg: Fred John Smith)

        If the Customer is a Company / Company Trustee: insert the name of the Company into the Company Name field.

        Insert the ACN (Australian Company Number) or ABN (Australian Business Number) into the ACN/ABN field.

        (Eg: “Olympus Pty Ltd ACN 123 456 789”)


        If the Customer is a partnership: insert the full name of the first human partner (or the name of the first company if each partner is a company) into the relevant field, then click “Add” to add another partner. The words “(a firm)” will automatically be inserted into the Agreement.


        (Eg: “Dr James Smith and Dr Eli Gabby (a firm)”)

        This hint is provided by Law Central Legal.


        #

      • Can I insert a business name as a party to the Agreement?

        No. Only legal entities like a human, company or incorporated association can be a party to the Agreement.

        (Eg: Olympus Pty Ltd trading as Olympus Seafood. “Olympus Seafood” is a business name, whilst “Olympus Pty Ltd” is the legal entity capable of entering into contracts).

        This hint is provided by Law Central Legal.


        #

      • What is an ACN?

        Under the Corporations Act 2001 (Cth), every company in Australia has been issued with a unique nine-digit number known as an Australian Company Number (ACN), which must be shown on a range of documents. The purpose of the ACN is to ensure adequate identification of companies when transacting business. New companies are issued with numbers by the Australian Securities & Investments Commission (ASIC) upon registration.

        A company’s ACN should appear on all of its “public documents” and “eligible negotiable instruments,” including but not limited to the following:

        • all documents required to be lodged with ASIC;
        • statements of account, including invoices;
        • receipts (which are not machine-produced);
        • orders for goods and services;
        • business letterheads;
        • official company notices;
        • cheques, promissory notes and bills of exchange;and
        • written advertisements making a specific offer which is capable of being accepted (such as by the completion of an order form).

        This hint is provided by Law Central Legal.


        #

      • What if my Customer doesn't have an ACN?

        If your Customer does not have an ACN, then you can insert their Australian business number (ABN) into the ACN/ABN field.

        The Australian business number (ABN) is a unique 11 digit identifier that makes it easier for businesses and all levels of government to interact.

        It is not compulsory to have an ABN, but it is an essential component for businesses to operate within the goods and services (GST) system.

        This hint is provided by Law Central Legal.


        #

      Customer Trustee Details

      • What are “terms of trade” or “trading terms”?

        These are the standard terms and conditions which apply to the supply of any goods and/or services by the Supplier. They usually cover fundamental matters such as:

        • the price of the goods or the fee for the service, including payment terms;
        • the right for the supplier to recover interest and costs if the customer doesn’t pay;
        • the extent of the supplier’s liability if there is a problem;
        • default and termination; and
        • what law will apply.

        These terms of trade do not contain a retention of title (RoT) clause. A RoT clause provides that the title to the goods remains vested in the supplier until certain obligations (usually payment of the purchase price) are fulfilled by the customer. The main purpose of a RoT clause is to provide the supplier with the means to repossess unpaid goods where the customer goes into liquidation or bankruptcy.

        This hint is provided by Law Central Legal.


        #

      • Customer Details

        The Customer is the person(s) or company that receives goods and/or services from the Supplier.

        If the Customer is Human / Human Trustee: insert the Customer’s first name into the First Name field, the Customer’s middle name into the Middle Name field and the Customer’s surname into the Last Name field.

        (Eg: Fred John Smith)

        If the Customer is a Company / Company Trustee: insert the name of the Company into the Company Name field.

        Insert the ACN (Australian Company Number) or ABN (Australian Business Number) into the ACN/ABN field.

        (Eg: “Olympus Pty Ltd ACN 123 456 789”)


        If the Customer is a partnership: insert the full name of the first human partner (or the name of the first company if each partner is a company) into the relevant field, then click “Add” to add another partner. The words “(a firm)” will automatically be inserted into the Agreement.


        (Eg: “Dr James Smith and Dr Eli Gabby (a firm)”)

        This hint is provided by Law Central Legal.


        #

      • Can I insert a business name as a party to the Agreement?

        No. Only legal entities like a human, company or incorporated association can be a party to the Agreement.

        (Eg: Olympus Pty Ltd trading as Olympus Seafood. “Olympus Seafood” is a business name, whilst “Olympus Pty Ltd” is the legal entity capable of entering into contracts).

        This hint is provided by Law Central Legal.


        #

      • What is an ACN?

        Under the Corporations Act 2001 (Cth), every company in Australia has been issued with a unique nine-digit number known as an Australian Company Number (ACN), which must be shown on a range of documents. The purpose of the ACN is to ensure adequate identification of companies when transacting business. New companies are issued with numbers by the Australian Securities & Investments Commission (ASIC) upon registration.

        A company’s ACN should appear on all of its “public documents” and “eligible negotiable instruments,” including but not limited to the following:

        • all documents required to be lodged with ASIC;
        • statements of account, including invoices;
        • receipts (which are not machine-produced);
        • orders for goods and services;
        • business letterheads;
        • official company notices;
        • cheques, promissory notes and bills of exchange;and
        • written advertisements making a specific offer which is capable of being accepted (such as by the completion of an order form).

        This hint is provided by Law Central Legal.


        #

      • What if my Customer doesn't have an ACN?

        If your Customer does not have an ACN, then you can insert their Australian business number (ABN) into the ACN/ABN field.

        The Australian business number (ABN) is a unique 11 digit identifier that makes it easier for businesses and all levels of government to interact.

        It is not compulsory to have an ABN, but it is an essential component for businesses to operate within the goods and services (GST) system.

        This hint is provided by Law Central Legal.


        #

      Customer Partnership Details

      • What are “terms of trade” or “trading terms”?

        These are the standard terms and conditions which apply to the supply of any goods and/or services by the Supplier. They usually cover fundamental matters such as:

        • the price of the goods or the fee for the service, including payment terms;
        • the right for the supplier to recover interest and costs if the customer doesn’t pay;
        • the extent of the supplier’s liability if there is a problem;
        • default and termination; and
        • what law will apply.

        These terms of trade do not contain a retention of title (RoT) clause. A RoT clause provides that the title to the goods remains vested in the supplier until certain obligations (usually payment of the purchase price) are fulfilled by the customer. The main purpose of a RoT clause is to provide the supplier with the means to repossess unpaid goods where the customer goes into liquidation or bankruptcy.

        This hint is provided by Law Central Legal.


        #

      • Customer Details

        The Customer is the person(s) or company that receives goods and/or services from the Supplier.

        If the Customer is Human / Human Trustee: insert the Customer’s first name into the First Name field, the Customer’s middle name into the Middle Name field and the Customer’s surname into the Last Name field.

        (Eg: Fred John Smith)

        If the Customer is a Company / Company Trustee: insert the name of the Company into the Company Name field.

        Insert the ACN (Australian Company Number) or ABN (Australian Business Number) into the ACN/ABN field.

        (Eg: “Olympus Pty Ltd ACN 123 456 789”)


        If the Customer is a partnership: insert the full name of the first human partner (or the name of the first company if each partner is a company) into the relevant field, then click “Add” to add another partner. The words “(a firm)” will automatically be inserted into the Agreement.


        (Eg: “Dr James Smith and Dr Eli Gabby (a firm)”)

        This hint is provided by Law Central Legal.


        #

      • Can I insert a business name as a party to the Agreement?

        No. Only legal entities like a human, company or incorporated association can be a party to the Agreement.

        (Eg: Olympus Pty Ltd trading as Olympus Seafood. “Olympus Seafood” is a business name, whilst “Olympus Pty Ltd” is the legal entity capable of entering into contracts).

        This hint is provided by Law Central Legal.


        #

      • What is an ACN?

        Under the Corporations Act 2001 (Cth), every company in Australia has been issued with a unique nine-digit number known as an Australian Company Number (ACN), which must be shown on a range of documents. The purpose of the ACN is to ensure adequate identification of companies when transacting business. New companies are issued with numbers by the Australian Securities & Investments Commission (ASIC) upon registration.

        A company’s ACN should appear on all of its “public documents” and “eligible negotiable instruments,” including but not limited to the following:

        • all documents required to be lodged with ASIC;
        • statements of account, including invoices;
        • receipts (which are not machine-produced);
        • orders for goods and services;
        • business letterheads;
        • official company notices;
        • cheques, promissory notes and bills of exchange;and
        • written advertisements making a specific offer which is capable of being accepted (such as by the completion of an order form).

        This hint is provided by Law Central Legal.


        #

      • What if my Customer doesn't have an ACN?

        If your Customer does not have an ACN, then you can insert their Australian business number (ABN) into the ACN/ABN field.

        The Australian business number (ABN) is a unique 11 digit identifier that makes it easier for businesses and all levels of government to interact.

        It is not compulsory to have an ABN, but it is an essential component for businesses to operate within the goods and services (GST) system.

        This hint is provided by Law Central Legal.


        #

      Goods/Services

      • What are “terms of trade” or “trading terms”?

        These are the standard terms and conditions which apply to the supply of any goods and/or services by the Supplier. They usually cover fundamental matters such as:

        • the price of the goods or the fee for the service, including payment terms;

        • the right for the supplier to recover interest and costs if the customer doesn't pay;

        • the extent of the supplier's liability if there is a problem;

        • default and termination; and

        • what law will apply.


        These terms of trade do not contain a retention of title (RoT) clause. A RoT clause provides that the title to the goods remains vested in the supplier until certain obligations (usually payment of the purchase price) are fulfilled by the customer. The main purpose of a RoT clause is to provide the supplier with the means to repossess unpaid goods where the customer goes into liquidation or bankruptcy.

        This hint is provided by Law Central Legal.


        #

      Payment

      • What are “terms of trade” or “trading terms”?

        These are the standard terms and conditions which apply to the supply of any goods and/or services by the Supplier. They usually cover fundamental matters such as:

        • the price of the goods or the fee for the service, including payment terms;

        • the right for the supplier to recover interest and costs if the customer doesn't pay;

        • the extent of the supplier's liability if there is a problem;

        • default and termination; and

        • what law will apply.


        These terms of trade do not contain a retention of title (RoT) clause. A RoT clause provides that the title to the goods remains vested in the supplier until certain obligations (usually payment of the purchase price) are fulfilled by the customer. The main purpose of a RoT clause is to provide the supplier with the means to repossess unpaid goods where the customer goes into liquidation or bankruptcy.

        This hint is provided by Law Central Legal.


        #

      Credit Check

      • What is credit?

        Credit is the provision of goods and/or services in return for the promise of payment at a future time.

        This hint is provided by Law Central Legal.


        #

      • Do I need the Customer’s permission to do a credit check?

        Yes, credit information is personal information and can’t be accessed unless the Customer has agreed.

        This hint is provided by Law Central Legal.


        #

      Guarantee

      • What is a guarantee?

        A guarantee is a promise by a person (i.e. a director of a corporate customer) to assume liability for an obligation owed by another person (i.e. the corporate customer) in the event that the corporate customer defaults in meeting its obligation.

        This hint is provided by Law Central Legal.


        #

      • What is an indemnity?

        An indemnity is a primary obligation on a party (i.e. a director of a corporate customer) to cover loss and damage suffered by another (i.e. the supplier).

        This hint is provided by Law Central Legal.


        #

      • Why is a guarantee and indemnity clause important?

        A guarantee and indemnity clause is a method of reducing risk. It is commonly used by lenders, landlords and suppliers as means of protecting themselves from the risk of default or non-payment.

        It is particularly important where the:

        • Customer is a company; and/or
        • Supplier has any doubts about the Customer’s ability to fulfil its obligations under the terms of trade.

        This hint is provided by Law Central Legal.


        #

      Jurisdiction

      • What are terms of trade or trading terms?

        These are the standard terms and conditions which apply to the supply of any goods and/or services by the Supplier. They usually cover fundamental matters such as:

        • the price of the goods or the fee for the service, including payment terms;

        • the right for the supplier to recover interest and costs if the customer doesn't pay;

        • the extent of the supplier's liability if there is a problem;

        • default and termination; and

        • what law will apply.


        These terms of trade do not contain a retention of title (RoT) clause. A RoT clause provides that the title to the goods remains vested in the supplier until certain obligations (usually payment of the purchase price) are fulfilled by the customer. The main purpose of a RoT clause is to provide the supplier with the means to repossess unpaid goods where the customer goes into liquidation or bankruptcy.

        This hint is provided by Law Central Legal.


        #

      Retention of Title

      • What is a retention of title (RoT) clause?

        A RoT clause provides that the title to the goods remains vested in the supplier until certain obligations (usually payment of the purchase price) are fulfilled by the customer.

        The main purpose of a RoT clause is to provide the supplier with the means to repossess unpaid goods where the customer goes into liquidation or bankruptcy.

        This hint is provided by Law Central Legal.


        #

  • This document has been prepared by the law practice Law Central Legal

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