Whilst being nothing new to the market place, the Enterprise Investment Scheme (EIS) introduced over 20 years ago has been the launch pad for many ideas and developments that have gone on to bring great return and growth for small high risk companies that would have otherwise struggled to raise debt or equity finance.
Suppliers will often not consider on what basis they are contracting for the supply of goods or services. This may be as they feel they can deliver on the contract and so there is no risk. Often, the issue for many is that they do not foresee a potential liability arising. Others may believe that they are contracting on their standard terms of business, though often these are not brought to the attention of the customer, either at the point of contracting, or at all. This note examines the potential issues facing a supplier through lack of a suitable contract.