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BIFA 2021 - are you ready to update?

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:

  1. 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statement to ensure that you use the term 'latest edition' rather than referring to an edition which may be out of date.
  2. Include your incorporation statement on all communications to clients including stationery, emails, credit applications, invoices, delivery notes and website.
  3. Ensure that you have the up-to-date edition available on your website which can be found on www.bifa.org.
  4. 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.
  5. 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.

12/01/21

Call: +44 (0)1628 532613

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