New legislation commencing on 16 November 2016 will prohibit unfair terms in Standard Form Contracts with small businesses.
The reform is an extension of unfair contract legislation which currently applies to financial services and consumer contracts where consumers are protected from unfair terms in circumstances where they have little or no ability to negotiate the terms of their contracts. The current reform is part of an initiative to extend the protections given to consumers to small businesses which are also vulnerable to unfair terms in Standard Form Contracts provided on a “take it or leave it basis”.
The effect of the reform is to render unenforceable, terms of the contract which a Court determines unfair.
The Kreisson team will explore:
- the affects of unfair contract laws and unfair contract terms on the Construction Industry;
- Small Business Contracts;
- Standard Form Contracts;
- what constitutes an unfair term;
- consequences if a court finds that a term is unfair; and
- how the new laws can affect you.