Time is of the Essence

Posted on: 13/07/2022

Category: For your business

In the supply of goods and services time can be a critical factor. If a supplier fails to deliver the goods or services within a specified time frame this can often lead to protracted disputes and unexpected costs. As a result, businesses should ensure that they have the right protection within their terms and conditions of business.

You may have heard the phrase “Time is of the essence”, it is the word ‘essence’ which sticks the importance to the phrase. If the delivery of goods or services is time critical then this should be referred to in writing and incorporated into the Contract between the parties. This can be achieved by a referring to a clause as “Time is of the essence”.