business-contracts

How to Ensure Your Business Contracts are Fair

Posted on Posted in Business, Legal Advice

When you run a small business you will come across any number of standard business contracts that are essential to the day to day running of your small business. Most commercial lawyers like Rowe Bristol, that would find on a lawyer’s list know that in general, many of these are actually unfair to the small business because they are not drafted in favour of the larger companies that offer them.

Many standard form contracts have not been at all fair to the small business. Up until now, there was not much you could do about it, except try to have a clause put in that covered your liability, but the other party didn’t have to agree to it, so it was either sign up or lose the deal.  However, that has just changed, so you don’t have to suffer under any unfair contracts any more.

However, just so that things don’t swing the other way and become unfair to those who  offer the contract, unfair terms must be examined in a court of law to ensure they are truly unfair and will cause the small business undue financial or other kind of hardship if not removed.  It must also be proven that removing them will not adversely affect the other company.

This particular law was passed in November 2016, even though there was another similar law in place since 2010. This particular law was passed to protect the interests of small business where standard contracts are concerned. This applies to both new contracts and renewed ones. If any contract is varied after the 12th November 2016, the law also applies to that.

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