As outlined in our article explaining the new Unfair Contract Terms (“UCTs”) regime, effective from 10 November, higher maximum penalties will applicable to contracts containing UCTs.
What you should do before 10 November 2023
At Gavin Parsons and Associates, we advise our clients to carefully review relevant contracts. It is crucial to ensure that contract terms are transparent and clear, that all rights of parties’ are balanced, that contractual terms aligns with industry standards and codes and that contractual arrangements and risks are thoroughly explained to customers during the sale process.
As always, please feel free to share this reminder with your colleagues, friends and clients as we know everyone will appreciate this useful reminder. If you require further information and assistance in understanding the UCTs, please contact Gavin Parsons or the team at Gavin Parsons and Associates on (02) 9262 4471 or at firstname.lastname@example.org