New laws were introduced on 12 November 2016 to protect small businesses from being taken advantage of by unfair contract terms.
The ACCC has now released a report which contains common terms in specific industries for small businesses to be aware of.
Important things to note:
A small business is defined to have 20 employees or less, including regular casuals;
The ACCC will be targeting large businesses supplying standard form contracts to small businesses that contain unfair terms;
For a term to be unfair it must cause significant imbalance, not be reasonably necessary to protect the legitimate interests of the advantaged party and it must cause detriment to a small business.
Click here to download the ACCC report.