Victoria-based law firm, Clearscope Legal, have released an e-book for the HVAC&R industry focusing on the changes to unfair contract laws.
The changes to unfair contract laws came into effect in late 2016 to protect small businesses with less than 20 employees if they enter into or renew standard form contracts that are valued up to $300,000 (or $1 million if the contract is longer than 12 months).
The e-book recommends that HVAC&R businesses renew and update their standard form contracts and focuses on five key requirements under the new laws–whether one party to the contract have less than 20 employees, whether the contract is for the supply of goods or services, whether the contract is in a “standard form”, whether the upfront contract price is less than $300,000 or $1 million (if the contract is longer than 12 months), and whether the contract started or renewed after 12 November 2016.
The e-book also recommends HVAC&R businesses ask themselves if there are any unfair terms in their standard form contracts and provides five “easy fixes” if they find any–updating limitation of liability clauses, adjusting auto-renewal clauses in HVAC&R service contracts, making the HVAC&R contract more transparent, making indemnity clauses more balanced, and curbing the right to unilaterally change the HVAC&R contract.
The e-book can be found and downloaded for free here.
Image via Clearscope Legal