Terms of Trade
Terms of Service (“Terms”) are a set of legal terms drawn up by the owner of a website. They set out the terms and conditions that govern the activities of visitors to that website, as well as the relationship between visitors to the website and the owner.
The Terms should be drafted according to the specific needs of the website and the nature of each website. For example, a website that offers products to customers with eCommerce transactions should have Terms that are different from a website that only provides information.
The terms allow the website owner to protect themselves from potential legal weaknesses.
What should you generally cover in your terms and conditions?
Who can use your website: what are the requirements to create an account (if applicable)
Commercial key terms offered to customers
Payment methods (credit/debit cards, PayPal, offline payments, etc.)
Retention of the right to change
Warranties and liability for services and products
Ownership of intellectual property, copyrights and logos
The right to suspend or cancel a member account
Indemnity
Limitation of liability
The right to change and modify the Terms
Preference for law and dispute resolution
Contact information
You can read this support article for more information on how to create a terms and conditions page.
The explanations and information provided herein are for general explanations, information and excerpts only. You should not use this article as legal advice or a recommendation for what you should actually do. We recommend that you seek legal advice to help you understand and create your terms of trade.