Posts tagged "unfair contracts small business"

Australia's competition watchdog has welcomed new legislation outlawing unfair contract terms, a long-awaited move advocates and lawmakers say is vital to stop large companies from exploiting the small businesses which supply them with goods and services.

Penalties of $50 million for companies found to have engaged in anti-competitive behaviour could soon be a reality, as the federal government tables legislation that could drastically increase the risks of breaching competition and consumer law.

The long-awaited reforms mean big businesses will face penalties for unfair terms in contracts with small business suppliers.

Outgoing ACCC chief Rod Sims used his farewell speech to the National Press Club to single out the need for better laws to help small business and merger controls.

You might get the impression that I think Rod Sims did a pretty good job. Well you’d be wrong — he has done an amazing job, writes Peter Strong.