While “Terms and Conditions agreement” is seen often at the bottom of a website, it is something that is actually not required by law. What is required on the other hand is the “Privacy Policy”. This is true especially if the site more so, trading platforms are collecting personal information from users including full name, complete address and other details.

Terms and Condition agreement is otherwise called as Terms of use or Terms of Service. As a matter of fact, there are several reasons why it is a good to have T&C and why you should read it as well.

Preventing Abuse

With Terms of Service, users and the website have a legally binding contract. This is the agreement that will be setting the guidelines and rules in which users should agree and follow to be able to use and to access the website or your mobile application.

Privacy Policy agreement however is informing users of what type of data you will be collecting and to how you will be using that information.

Account Termination

This is a common clause that you can also find in Terms and Conditions agreement.  Within this clause, it is informing users that the abusive accounts could be banned and terminated from making use of the service.

Termination clause is focused on registration section. And website administrators have the power of banning or disabling any abusive users.