BIFA has recently revised its Standard Trading Conditions (STC) as a consequence of the UK's exit from the EU and it takes into account the changes to Direct/Indirect Representation with HMRC.
Here at Peter Lole we are constantly reminding our clients and prospects of the importance of incorporating trading conditions into every transaction.
We recommend the following:
- Consider revising your current incorporation statement to ensure that you use the term 'latest edition' rather than referring to an edition which may be out of date.
- Include your incorporation statement on all communications to clients including stationery, emails, credit applications, invoices, delivery notes and website.
- Ensure that you have the up-to-date edition available on your website which can be found on www.bifa.org.
- Send a notice to all of your clients, enclosing a copy of the 2021 conditions, to inform them of the change and when it will take place.
- Check your Freight Liability Insurers have the appropriate cover in place.
For specialist advice and expertise on incorporating your trading conditions, please view our reference guide.