Here’s What You Need to Know
Templates can be very risky for many reasons since the purpose of your T&Cs is to protect your customers’ privacy, reduce your exposure to liability, shield your intellectual property (IP), inform about limitations and warranties, and disclose conflict resolution procedures. You need T&Cs that are going to cover your business, not someone else’s.
The type of business you’re engaged in (e.g., are you B2B or retail? are you selling goods or services?), as well as your range of business activities (how are you processing payments? what kinds of personal information are you receiving?) will dictate how your T&C’s should be customized to protect your business and customers.
In addition to legal compliance, you’ll want to protect your company with policies that are not legally required, but are strongly recommended. Policies protect your IP and reduce your exposure to liability. Violation of your policies gives you the right to terminate a user’s account in the event of a breach.