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ARTICLE · 04 DECEMBER 2017

Regulators continue to crack down on unfair contract terms

Corrs Chambers Westgarth
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All organisations should continue to review standard form contracts to ensure they remain compliant with the UCT laws.

AustraliaCorporate/Commercial Law
Michael Chaaya
Michael Chaaya
Peter Anderson
Peter Anderson
Magan Goh
Magan Goh
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The ACCC has recently announced that it will continue to educate businesses on their rights under the extended unfair contract terms (UCTs) regime, reminding traders of the potential for court action if it views such enforcement measures necessary.

Since the extension of UCT protections to small business contracts last November, the ACCC has celebrated a milestone win, with the Court finding that eight of the terms and conditions in JJ Richards' waste management contracts with small businesses were void for being unfair.1

With respect to financial services contracts, ASIC and ASBFEO have similarly been active in monitoring compliance with the regime. They have successfully negotiated a commitment from the big four banks to remove potential UCTs in their small business contracts, including:2

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