When dealing with any large organisation, the payment terms and associated Ts&Cs are an essential part of the negotiation. The Ts&Cs contain all the legal terms, conditions and implications of breaching the contract that enable a supplier to work with a customer.

The payment terms are critical to SMEs as they are at the heart-beat of Working Capital Stretch. The longer the payment terms and the bigger the contract, the more working capital has to be funded.

They can take a long time to negotiate, so start the process in parallel with the commercial negotiations.