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Fair Contracts: At last, some good news!

Wednesday, April 29, 2015

We’ve waited a long time for this. The Small Business Minister, Bruce Billson, has released the draft ‘Unfair Contracts Protection’ Bill for small business people. On ICA's first assessment, it ticks all the boxes of really delivering for small business people. This is quite historic, with the positive implications across the economy and for all Australians being more substantial than what people may think.

ICA Executive Director Ken Phillips explains this in an article in Business Spectator today, ‘Small Reform is a Big Deal’. Robert Gottliebsen also gives the news a big wrap, ‘Billson is Bringing Fairness Back to Business’.

The draft Bill can be found here, along with some facts sheets and explanations. We are, however, making enquiries to clarify a clause which suggests protections apply only to contracts where, “the upfront price payable under the contract does not exceed $100,000”. We’ll have more on this when it has been clarified.

For an overview of what the unfair contract protections mean, have a look at ICA's 2010 ‘Charter of Contractual Fairness’. This is when ICA first started advocating for these laws.
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