diff --git a/erpnext/controllers/buying_controller.py b/erpnext/controllers/buying_controller.py
index d883c3adc72fe2c2d0fecde47520aca01c91c885..b1409abe9b302fd3c345eb4c6aa4af2c8fb83895 100644
--- a/erpnext/controllers/buying_controller.py
+++ b/erpnext/controllers/buying_controller.py
@@ -81,6 +81,19 @@ class BuyingController(SubcontractingController):
 				),
 			)
 
+		if (
+			self.get("company")
+			and (
+				default_buying_terms := frappe.get_value(
+					"Company", self.get("company"), "default_buying_terms"
+				)
+			)
+			and not self.get("tc_name")
+			and not self.get("terms")
+		):
+			self.tc_name = default_buying_terms
+			self.terms = frappe.get_value("Terms and Conditions", self.get("tc_name"), "terms")
+
 	def validate_posting_date_with_po(self):
 		po_list = {x.purchase_order for x in self.items if x.purchase_order}
 
diff --git a/erpnext/controllers/selling_controller.py b/erpnext/controllers/selling_controller.py
index 056dc2a38d3227f0b584cce5cb7f7b91f34b05a9..383fd66731eed7c1e9423341537a190974f0833c 100644
--- a/erpnext/controllers/selling_controller.py
+++ b/erpnext/controllers/selling_controller.py
@@ -48,6 +48,19 @@ class SellingController(StockController):
 				),
 			)
 
+		if (
+			self.get("company")
+			and (
+				default_selling_terms := frappe.get_value(
+					"Company", self.get("company"), "default_selling_terms"
+				)
+			)
+			and not self.get("tc_name")
+			and not self.get("terms")
+		):
+			self.tc_name = default_selling_terms
+			self.terms = frappe.get_value("Terms and Conditions", self.get("tc_name"), "terms")
+
 	def validate(self):
 		super().validate()
 		self.validate_items()