It is a standard term of a lease or terms and conditions of trade for the supply of goods or services, that a personal guarantee be provided to ensure that a business pays its debts. A personal guarantee is usually provided by the company director and can be any or Read more…
It could happen to you. You will only discover you have been dealing with a purple fictitious character after you have provided the service/delivered the goods and not been paid. Below is a checklist of what to do when entering into any agreements. (more…)
We recently advised a client on the importance of entering into written, enforceable agreements with its customers. Our international client had supplied stock over a number of years to an Australian-based customer. However, our client’s written supply agreement was entered into with a ‘group of companies’, described here in generic terms as follows (the ABC Group) and not with an actual legal entity, being either an individual or a company with an Australian Company Number (ACN). (more…)
What is the best way to enter into an agreement for the supply of services/goods? A written agreement specifying the terms of trade should be exchanged between the parties. Usually parties enter into business dealings in good faith, expecting the best of the other party in anticipation that all will benefit or profit from their new business venture. (more…)