Update: 16 September 2014
The Treasury, on behalf of Consumer Affairs Australia and New Zealand, conducted a consultation process on Extending Unfair Contract Term Protections to Small Businesses from 23 May 2014 to1 August 2014. A consultation paper was released as part of this process.
Over 80 submissions were received in response to the Consultation as well as around 300 responses to the online business survey.
The majority of submissions were supportive of extending unfair contract term protections to small businesses. Respondents to the survey and feedback from formal submissions suggest that unfair terms are an issue for a wide range of industries. Common terms raised by submissions were those which permit one party to unilaterally vary terms, limit their obligations, terminate or renew the contract, or levy excessive fees.