![]() The supplier fails to meet their side of the contract, e.g.Get a receipt showing the amount paid, the balance owing, and if the deposit is refundable.kitchen joinery, when a larger deposit may be reasonable. Only pay a deposit of 10% or less, unless you order purpose-built products, e.g.Ask if the deposit will be refundable and make this a term of the contract.in what circumstances the deposit will be refunded.You can discuss and agree with the seller: After the contract is completed, you will pay the balance - the rest of the total cost. Paying a deposit gives security that the contract will go ahead. Check for penalty fees that may be charged if you cancel or want to change the terms of the contract.Check any figures or other information added to the contract are correct.Never sign a blank contract or allow details to be filled out later by a salesperson.Don’t be pressured into signing on the spot.Make sure verbal promises or claims are attached in writing to the contract.Ask the seller to explain the contract.Negotiate or shop around if the contract doesn’t suit your needs.Ask questions and get advice if there is anything you are unsure about or don’t understand.Read all the terms, including the fine print. They are all legally binding as long as they are validly made.īefore you agree to or sign a contract, take time to understand it. Electronic contractsĮlectronic contracts are made by email and online forms (e-commerce) and social media, e.g. Verbal contractsĪ verbal contract is binding as soon as you accept an offer from a seller, or as soon as a seller accepts your offer. They are less common for consumer products and services than standard form contracts. if you buy a car but make the purchase conditional on mechanical checks. Negotiated contracts involve you and the seller negotiating terms before agreeing to the contract, e.g. rental car agreements, gym memberships, TV subscriptions, gas and electricity contracts, finance agreements and retirement home contracts. The terms can be in a separate document, or on the back of things like tickets, quotes, terms of trade or invoices. ![]() the agreement is offered on a take it or leave it basis. Written contracts Standard form contractsĪ standard form contract is an agreement in which the terms haven't been negotiated, e.g. Contracts can be in writing, verbal or electronic. ![]()
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