Recent Answers to Vendor Financing Law Questions
Payment terms in a business contract?
Vendor Financing
Business Contract
Ohio
I am a small business owner entering into a contract with a vendor for services. I am concerned about setting appropriate payment terms and want to make sure I understand the legal implications of the terms I am agreeing to. I need to know what is legally binding in regards to payment terms in a business contract.
Jeffrey K.
The payment terms listed in the contract would be binding upon your business if you enter into the vendor agreement. Depending on who the vendor is, you may have the ability to negotiate the payment terms with the vendor. I'd be happy to assist you in the review of your vendor agreement and discuss what your obligations are and how you can make a counter proposal for payments.
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