Australian Competition and Consumer Commission Deputy Chair Dr Michael Schaper says that he is concerned that many sectors remain unprepared for changes coming into effect in November when existing unfair contracts
provisions for consumers are extended to include small businesses.
The ACCC says that small businesses enter into an average of 8 standard contracts a year . With more than 2 million small businesses in Australia, the ACCC anticipates this change will potentially affect millions of standard form
contracts.
“The ACCC has engaged with many businesses during the transition period. I urge all businesses that issue standard form contracts to undertake a review of their terms in the lead up to November 12 to ensure that they are compliant
with the new laws,” Dr Schaper said.
“Almost two thirds of small businesses have claimed to have experienced unfairness in the contract terms and conditions that they have signed up for and almost half report experiencing some harm as a result.”
For more information please download and read the full pdf article below.