A terms of service page is typically where you place any special terms related to the use of your site or buying items from you.
I recommend having a terms of service page, especially if you want someplace to put legal notices for potential customers or viewers.
If you want to profess lack of legal liability over possible happening, this is the place for it.
In addition to displaying legal notices, a terms of service page is also said to make ranking organically with search engines easier.
