Labor to make unfair SME contracts illegal

The federal opposition has pledged to make unfair terms within standard form contracts issued to SMEs illegal if it wins power, ramping up the existing law by imposing fines of up to $10 million on corporate Australia.

Labor issued a statement announcing that, if it wins this year’s election, it will act on recommendations from the ACCC and make unfair terms illegal and impose the hefty penalties for larger businesses incorporating them into contracts with SME suppliers.

Read more at MyBusiness.

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