Our truck symbolises the delivery process for your deal.
Your specification should say exactly what is going to be delivered. How is it going to get there?
If it is a product, be clear about who is responsible for shipping and insurance. You might want to take a look at the INCOTERMS for some definitions of different allocations of responsibility and ownership (referred to as “title” in legal documents) and risk (responsibility for loss, damage or theft) during delivery. As at the time of writing, INCOTERMS 2010 is the latest version of these terms, and several definitions have changed since the previous version, so do check you’re using the right ones!
If high-value goods are being delivered and paid for in arrears, you might consider a “retention of title” clause. This enables the supplier to retain ownership of the goods until they have been paid for by the customer. It means that if the customer does not pay for the goods, and subsequently becomes insolvent or otherwise defaults, the supplier can claim their goods back rather than waiting for a limited payment as an unsecured creditor.
If the contract relates to services rather than goods, consider how the services will be delivered. Will they be performed on the supplier’s or the customer’s premises? Who pays for travel and other expenses? Are there any specific requirements about who delivers the services (named personnel, or particular qualifications or experience)?
Want to know more? Contact Devant for contract assistance!