Have you reviewed your standard form contracts?

Expansion of unfair term protections to small business commencing 12 November 2016

If you trade with small businesses and use standard form contracts, it's important to be aware of upcoming changes to unfair contract protections in the Australian Consumer Law. Businesses should ensure they review their standard form contracts for 'unfair terms' to ensure they do not fall foul of the new laws.

From 12 November 2016, the national unfair term protections for consumers in the Australian Consumer Law will extend to protect small businesses from unfair terms in standard form contracts.

Around four in five small business contracts are expected to be covered by the new protections, which will not only apply to new contracts but any renewals or variations to existing contracts that occur after 12 November.