Jaqi Rota, the Managing Director of Austbrokers Trade Credit, partner of our Silver Sponsor AB Phillips presented at the FTMA Australia National Conference on the important topic of “Your rights…Terms and Conditions & Back Charges”
In my opinion, never have we seen such bullying by builders who seem to be using fabricators to fish for quotes, demand drawings and layouts free of charge, or attempt to include back charging as part of their everyday operations. This isn’t right but unfortunately FTMA Australia cannot tell fabricators how to run their business and it is up to you as to whether you waste time on every quote that goes across your desk or whether you accept the continuing demands from builders.
What FTMA can do, and does do extremely well, is ensure you have all the right information and tools at your disposal so you can implement them in to your business, such as the correct Terms of Trade which, as outlined by Jaqi at the conference should include:
- Recover all collection costs
- Charge interest on overdue accounts
- Establish jurisdiction AND Governing Law
- Register a “security interest” in all goods (PPSA)
- Incorporate a guarantee and charge
- Allow variations
- Deal safely with trusts
- Limit liability
- Warrant the accuracy of information
Jaqi Rota presenting at the FTMA 2019 National Conference
For FTMA Australia members, most of this covered in our Commercial Credit Application Terms and Conditions of Trade document which is available for free download on our members only section of the website. This document is constantly updated when any changes arise and over the years we have had members challenged by builders on the document but at every stage it has stood solid as we have spent considerable money having it checked by lawyers to cover your needs.
For more information on how you can stop this bullying and ensure your rights are taken care of, please refer to the presentation from Jaqi. In my opinion, Jaqi, along with the team at AB Phillips is always willing and ready to help FTMA members and their services are not just limited to trade credit. If you need any information on Insurance, Trade Credit, Superannuation or even HR Services please see Jaqi & Rose’s details at the bottom of Jaqi’s presentation.