Unfair Contract Terms Tip

Giving clients a clear viewUnfair Contract Terms Tip

Tips for Fairer Contract Terms

The Unfair Terms in Consumer Contract Regulations suggest that terms that enable a firm unilaterally to change contract variables are less likely to be unfair if:

  • The term enables the firm to change a contract variable only with a valid reason which is specified in the contract; or
  • The term permits a change in the rate of interest or other charges for financial services under the contract and there is a valid reason for that change and the contract provides for the firm to give the client notice at the earliest opportunity thereafter and the consumer is free to dissolve the contract immediately; or
  • If in a contract of indeterminate duration, the contract provides for the firm to give the client reasonable notice in advance of making the change and the consumer is free to dissolve the contract.
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