Business Profile
BUSINESSES are being encouraged to take the slowdown in the market as an opportunity to ‘put their house in order’, and to check that their terms and conditions and legal position will protect them in the current economic situation and stand them in good stead for the eventual upturn.
Hungerford solicitors Dickins Hopgood Chidley say that companies should be ensuring, now more than ever, that they are in a strong position and individuals too should be checking that they are getting value for money from their legal services.
“There is so much that businesses can do to strengthen their position,” explained Christopher Chidley, who is a Licensed Insolvency Practitioner with the firm.
“For example, ensuring that you retain ownership of the goods until they are paid for can be vital or even providing a credit card facility so you know you will be paid. Another important consideration is, where possible, to ensure that your goods are clearly identified. It sounds obvious, but it can prove crucial in difficult times.
“It is vital to have your terms and conditions in order. Many people do not realise that it is pretty pointless putting your terms on your invoice as the contract will already have been agreed. You must adopt a contract procedure that ensures that any sale contract is on your terms, not those of your customer. You may not like theirs.
“If, despite rigorous preparation, the business faces financial difficulties, under the new 2006 Companies Act it is important that directors not only take the correct steps but are seen to be doing so.”
He added: “If insolvency is the only option – and it is something we strive to help people avoid – then again it is important to get advice on the consequences. For example if someone in your family has become bankrupt, other family members should ensure their wills are changed otherwise an inheritance could simply end up paying off the debts.”
Julian Dickins felt that people should be ensuring that solicitors offered value for money with conveyancing. He stressed: “With houses taking longer to sell and the increased potential for chains to break down it is paramount to know that your solicitor is pushing for you and driving the other parties forward. That is something we pride ourselves on here.”
Mr Dickins concluded: “Whatever situation a business or individual finds themselves in it is vital they seek professional legal advice quickly. The call to say ‘I wonder if you can help... I am in court tomorrow’ is far from ideal.
“Here at Dickins Hopgood Chidley we are approachable and will happily talk to people to help them explore their options and the likely costs if they proceed. Even if we only offer peace of mind, we do want to help.”
Dickins Hopgood Chidley LLP
Tel: (01488) 683555
Fax: (01488) 681919
Web: www.dhc-solicitors.co.uk
E-mail: dhc@dhc-solicitors.co.uk
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