Unfair Contract Terms

Everything you need to know
and next steps

Everything you need to know and next steps.

News & Resources > Unfair Contract Terms

This page provides all the information you need to know about the changes to the Unfair Contract Terms regime.

In what we regard as onerous and punitive reforms, the expanded unfair contract terms law (UCT) that came into effect on 9 November have and will continue to affect thousands of businesses’ standard form contracts.

Now is the time to review your terms and conditions of trade and any other standard form contracts on which you trade (e.g. purchase order conditions, consignment agreements, credit documentation etc).

Our Principal, Anna Taylor, explains the changes to the Unfair Contract Terms and what you need to do to get your business ready.

Resources and Insights

The  sweeping reforms of the unfair contract terms regime mark a significant shift in the legal landscape for standard form small business contracts and consumer contracts. As the changes came into effect on 9 November, 2023, it’s important to stay informed.

Our expert team has created a suite of resources and insights to help guide you through this transition and into the future.

Unfair Contract Terms Regime: Current Insights and Strategies

Unfair Contract Terms Regime: Current Insights and Strategies

​The reverberations of Australia's updated unfair contract terms regime, implemented on 9 November 2023, continue to be felt across the business community.

Since implementation, businesses and credit professionals have been

Unfair Contract Terms Regime Situation Report

Unfair Contract Terms Regime Situation Report

The reverberations of Australia's updated unfair contract terms regime, implemented on 9 November 2023, continue to be felt across the business community.

Since implementation, businesses and credit professionals have been

Fair Go Mate: The Rise in Defences using Unfair Contract Terms

Fair Go Mate: The Rise in Defences using Unfair Contract Terms

The increased use of the Unfair Contract Terms Regime as a defence in legal claims during debt recovery is not a coincidence. It's a result of economic growth softening, the

Successful Defence to Unfair Contract Terms Case

Successful Defence to Unfair Contract Terms Case

Tailored and well-structured standard form contracts are the bedrock of robust commercial relationships, for both business and consumer relationships. They provide clarity for all parties and ensure businesses are compliant

Unfair Contracts: Frequently Asked Questions

Unfair Contracts: Frequently Asked Questions

As the changes to the Unfair Contract Terms Regime have now come into effect, many of our clients have been seeking clarification on what this means for their businesses.

With

Corporate Counsel’s Guide to The Unfair Contracts Regime Changes

Corporate Counsel’s Guide to The Unfair Contracts Regime Changes

From 9 November 2023, the amended Unfair Contract Terms Regime is in effect.

 It is crucial for Australian businesses and their legal teams to be fully aware of the

Is your Credit Documentation and Terms of Trade Unfair?

Is your Credit Documentation and Terms of Trade Unfair?

This article first appeared in Credit Management Magazine, October 2023. Read full Magazine here. With the introduction of Unfair Contract Terms Regime on November 9th, it is more important than
[Webinar] Unfair Contract Term Changes are Imminent [hosted by BICB]

[Webinar] Unfair Contract Term Changes are Imminent [hosted by BICB]

Nicholas Boyce discusses the impact of the Treasury Law Amendments (More competition, Better Prices) Act 2022 (Cth) on businesses. This session was presented at a seminar titled “Unfair Contract Terms
Unfair Contract Terms Checklist

Unfair Contract Terms Checklist

From 9 November, 2023, sweeping reforms of the unfair contract terms regime will commence. This checklist aims to help you assess your standard form contracts and identify any terms that could be considered 'unfair' under the new regime.
Unfair Contract Terms Regime - Key Questions

Unfair Contract Terms Regime – Key Questions

In what we regard as onerous and punitive reforms, the new unfair contract terms law (UCT) coming into effect on 9 November this year will affect thousands of businesses’ standard

[Webinar] The New Unfair Contracts Terms: What it means for your business

[Webinar] The New Unfair Contracts Terms: What it means for your business

Onerous and punishing – the new unfair contract terms regime will affect thousands of businesses standard form of contracts.

Is your business prepared for the changes? 

Join us at 12pm

Frequently Asked Questions

What is the new unfair contract terms law?

The Treasury Laws Amendment (More Competition, Better Prices) Act 2022 (Cth) was enacted into law on 9 November 2022 and enters into force on 9 November 2023.

What are the changes coming into effect?

The changes grant the Australian Competition and Consumer Commission (ACCC) significant new powers to enforce the UCT Laws, including the ability for the ACCC to levy fines for breaches of the expanded UCT Laws of up to:

  • $50,000,000 for corporate businesses
  • $2,500,000 in the case of an individual
Which contracts are impacted by these changes?

The expanded UCT Laws will apply to standard form, small business contracts and consumer contracts entered into or varied on and from 9 November 2023.

Standard form contracts are contracts that have been prepared by one party to the contract (the business offering the product or service) without negotiation between the parties. In other words, it is offered on a ‘take it or leave it’ basis.

Small business contract – the contract is for the supply of goods or services, or a sale or grant of an interest in land or for the supply of financial products or financial services; and at least one party to the contract is a small business, which is a business that employs fewer than 100 people and/or has an annual turnover of less than $10 million. If the ASIC Act applies (if the contract relates to the supply of financial products or services), the contract must also have an upfront price no greater than $5 million.

Consumer contract – At least one party to the contract must be a consumer – that is, an individual who is acquiring goods or services, or financial product or services under the contract wholly or predominantly for personal, domestic or household use or consumption. Consumers commonly enter into standard form contracts for financial products and services such as personal or home loans, bank accounts, credit cards, insurance cover or financial advice.

How do I make sure my business is compliant?

Your business should be reviewing its standard form contracts and terms and conditions to ensure they are compliant with the expanded UCT Laws, once they enter into force on 9 November 2023.

How can Results Legal help my business lower the risk?

Results Legal is a market-leading specialist in trade credit contracts for businesses. We have a comprehensive practice in trade credit with a specialisation in trade credit contracts.

We have developed comprehensive credit documentation which is compliant with the expanded UCT Laws. We can also tailor this to meet the needs of your business.

We are offering a no-cost review of your credit documentation. To take advantage of this offer, upload your credit documentation via our Unfair Contract Terms form below.

No cost review of your credit documentation

We are offering a no cost review of your terms of trade and credit documentation. To take advantage of this offer, or to speak to us generally about the expanded Unfair Contract Term Regime, please contact the Results Legal team on 1300 757 534 or via the contact form below.