The Australian Competition and Consumer Commission (the ACCC) has recently begun the process of reviewing the new provisions governing Unfair Contract Terms (UCTs), which began operation on 9 November 2023. These new provisions considerably widened the scope of the old UCT provisions and have profound implications for many contracts, especially in the franchising sector. In this blog post we will unpack what the UCT provisions are, the type of contracts they affect, how the amended provisions changed the law and what the ACCC's review is hoping to achieve. We will also consider whether the amendments have, thus far, actually had the effects that the Government set out to achieve.

Securities are a type of investment that hold tradeable value. They can take many forms, including stocks issued by a government or shares in a company. They are commonly offered for purchase by companies or individuals looking to raise money to make an investment or other purchase of their own. However, existing securities held over a business can make purchasing that business more complex, so it is important to identify any existing securities when entering into a business sale agreement.

Assignment and novation are two methods of transferring contractual rights or obligations from one party to another. While they might seem similar and even interchangeable on the surface, they actually have very different uses, so it is important to have a good understanding of what you want to transfer and how you can do it.

An Assignment Agreement is a legal document which can be used by one party (the assignor) to assign rights or interests previously belonging to the assignor to another party (the assignee).

Arbitration is an alternative form of dispute resolution (‘ADR’) where parties with a disagreement present their case to a neutral third party known as an arbitrator, who then determines an outcome to resolve a dispute.

A decision made by an arbitrator is legally binding on all parties and enforceable in Court, unless all parties agree that the arbitrator’s decision will not be legally binding .

Since 2010, all of Australia's states and territories have been governed by Commercial Arbitration Acts, a scheme of legislation which have created a uniform framework for commercial arbitration in Australia. This ensures consistency in the processes and outcomes of arbitrations across the country.  

Arbitration between countries is also regulated in Australia by the International Arbitration Act 1974 (Cth) .

Arbitration is a popular method for resolving commercial disputes, as it is efficient, impartial and enforceable . There are many professional arbitrators in Australia, and its arbitration industry is independent and sophisticated .