Contracts (Storify timeline)
Q1. Corillion’s collapse have left an estimated 30,000 firms unpaid. How many of these are small businesses is unclear, but do you think they’ll get ANY of the money? Do contracts provide a strong legal basis?
Q2. “My word is my bond”. Would you do business with someone who isn’t concerned/fussed about a contract or do you think this is a warning sign that they are not particularly clued up when it comes to business?
Q3. Perhaps we should ask ourselves whether contracts should be seen as an ultimatum or an agreement. Do you negotiate the terms and change any clauses, or just go with what is presented? Or not, and walk away?
Q4. As a small business owner, is it totally necessary to have your contract template reviewed and approved by a solicitor, or would a simple set of stipulations, obligations, expectations and division of responsibilities suffice, legally?
Q5. In the event of non-payment (breach of contract) after plenty of polite reminders what would YOU do first: serve a warning letter, start court proceedings, withdraw/withhold work (if possible)?