At the heart of every SaaS deal is a contract. By nature, contracts are complex. A good contract needs to protect you and your intellectual property as a vendor, and outline rights and expectations for your customers. A contract is a binding legal document, and it’s essential to understand all of the facets of your SaaS contract before you send it off for a client signature.
Today, we’ll go over the key elements of a SaaS contract, and how to build in B2B buy-now-pay-later provisions that will protect your interests as well as your client’s interests, and make the details of your agreement with one another clear.
What is a SaaS contract?
A B2B SaaS contract lays out the terms and conditions of your agreement with your client. It includes final pricing, details on data usage, privacy, renewals, cancellations, and more. It’s a document that both parties can refer to throughout the contract period in order to understand expectations and responsibilities.
Types of agreements
A contract will contain several agreements that outline various expectations, including, but not limited to:
- Third-party agreements: This outlines the function and scope of third-party platforms, vendors, or service providers.
- Policy agreements: This may include trademark and intellectual property protections, and more.
- Delivery agreements: This type of agreement outlines how you will be delivering your product, how usage will be measured, if applicable, support options for the client, and more.
- Data security agreements: This agreement details all data security provisions, how data will be used and secured, and who is responsible for potential data security failures.
- Liability agreements: This includes liabilities your company accepts, liabilities your company denies, and details surrounding damages for potential liability claims.
- Warranty agreements: This agreement outlines customer options and vendor responsibilities if there is a failure in service, delivery, or other issue.
- Payment agreements: This agreement details pricing, how your customer will pay for your product, how frequently installments are to be paid, and whether or not discounts will be included.
Simplifying your payment agreement with B2B BNPL
The payment agreement is one of the most important parts of a B2B SaaS contract, because it outlines how and when you’ll get paid for your product. If you’re in heavy negotiations, the payment agreement in your contract will constantly be in flux. B2B buy-now-pay-later (BNPL) platforms can simplify and streamline your payment agreement by providing an all-in-one checkout, payment, and flexible terms platform. A quality B2B BNPL platform will:
- Simplify your payment agreement
- Empower you to invest in growth immediately
Using a B2B BNPL A B2B BNPL platform simplifies B2B payments by seamlessly integrating into your checkout process. Instead of endlessly negotiating through discounts and payment plans with your client, Capchase Pay allows you to offer flexible payment terms directly at checkout. Capchase Pay instantly underwrites your client through a proprietary process, approves them, and offers quarterly, monthly, or custom payments. This allows your payment agreement to include Capchase Pay alone, without having to delve into the details of how, when, and how much your customer’s payments will be. Capchase Pay then manages billing and collections on your behalf behind-the-scenes.
Invoice financing with a B2B BNPL
Unlike offering an in-house payment plan to your customers, a B2B BNPL pays you full ACV upfront on Day 1, so you can finance growth, marketing efforts, and product development with a year’s worth of invoice payments. Invoice financing essentially advances a year of revenue from a customer, improving revenue recognition and allowing you to invest in features that will increase retention rates, reduce churn, and attract new business.
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