From 9 November 2023 the Unfair Contract Terms regime will have real teeth and apply to more contracts.
From then, large penalties can apply for use of unfair contract terms. The regime applies to consumer contracts and small business contracts. Standard form business contracts will generally be covered if one party has fewer than 100 employees or annual turnover below $10 million.
Our infographic below summarises the changes and lists 10 unfair contract terms to avoid.
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Breanna Davies, Partner
Caroline Ord, Partner
David Smith, Partner
Edward Martin, Partner
Adam Walker, Special Counsel
Eve Lillas, Associate
Joseph Abi-Hanna, Associate
The commencement date for the amendments to the unfair contract terms regime has been amended to 9 November following a change in the date previously communicated by the Australian Competition and Consumer Commission.