Unfair contract term provisions currently in place for consumers will be extended to cover “small businesses” in amendments going live on 12 November 2016.
If your company trades with businesses (employing less than 20 staff) and utilise standard form contracts (such as a credit agreement), you will almost certainly be caught by the amendments.
Extension of the unfair contract term regime will carry with it an increased risk of disputes if effective precautions are not taken prior to commencement of the amendments. Action can, however, be taken in advance of the reforms to minimise risk to your business.
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