This document is a template of terms and conditions which may be utilised by suppliers of goods and/or services when opening a line of credit for a customer. The template has been drafted by suitably qualified legal practitioners on behalf of MGAIBA to be a general starting point for most businesses in need of such a template but has not been drafted to suit a specific business model. It may therefore not be suitable for your business and may need to be changed on a case-by-case basis. This template does not form legal advice and should not be relied upon as such. If you suspect that changes are required to the template to suit your business, you should obtain independent legal advice from a suitably qualified legal practitioner before making such changes or relying upon this document in its current form. If you do not understand any part of the template or how it may apply to your business, you should obtain independent legal advice. MGAIBA provides this document template as is for its members and its availability and subsequent use by any person is conditional on the understanding that MGAIBA (and its advisors) accepts no liability for any loss or damage caused or incurred by using or relying on any part of the template.
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