Terms of Trade Policy

Terms of Trade Policy Course

The Terms of Trade Policy defines the terms of trade a business will give a customer.  In addition, determines the circumstances when the payment of the sale is expected to be received.  This policy refers to the terms of trade, not the conditions of sale.  Many businesses combine the terms of trade with the conditions of sale on the back of invoices in small print.  Therefore, different customers call for different terms.  Most of all, there is a better chance of employees following the business’s vision due to the rules defined in a policy.

The policy covers situations such as the number of days, deposits and progress payments throughout the job.  Also, what happens if payment is not received; and when you will advise the customer of the terms.  Will it be when the customer gets the quote, or at the initial negotiation of the sale?  In addition, issues such as the format of the invoice are addressed.  As a result, what is included enhances your chances of getting paid on-time.

Advice from the QLD Government Business website:  “Sending a clear message to customers about when and how you expect to be paid will help you manage cash flow and maintain good customer relationships.”

QLD Government Business website link – advice regarding payment terms

Course Topics Include:

  • The basic criteria for writing any policy with procedures
    • the specific language and tone of the document
    • the structure of the policy
  • A step by step guide to create a unique policy with procedures to suit your business
  • The importance of meetings to monitor the policy and customers
  • An agenda template
  • A Terms of Trade Policy template for an example of the final document

1 hour Online Video Lecture Course – 7 lectures

Downloadable resources included in the course:  Terms of Trade Policy template, list of basic requirements needed to prepare a policy with procedures, meeting agenda

Course Cost $82.50                  Enrol in Terms of Trade Policy Course

Download the course content document to get a description of all the lectures

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