The Australian Competition and Consumer Commission is urging businesses to closely review the standard form contracts they use when dealing with other businesses.
A new law will take effect on 12 November 2016, following a 12-month transition period, that offers small businesses protections against unfair contract terms offered by other (usually larger) firms.
From 12 November 2016, a new law protects small businesses from unfair terms in standard form contracts.
The Australian Competition and Consumer Commission Deputy Chair Dr Michael Schaper has launched the tenth issue of Small Business in Focus at the Council of Small Business Australia (COSBOA) national summit in Sydney.
The report contains the latest small business and franchising complaints data and highlights the ACCC’s activities in the small business sector.
Contraventions of the Competition and Consumer Act 2010 and the Australian Consumer Law will attract fines and pecuniary penalties.