standard form contract


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standard form contract

a contract that is not specially set out for the transaction in question but is drawn up in advance and applied to numerous transactions. Such contracts are not defined in the Unfair Contract Terms Act 1977 but controlled by it. The concept is that one party is only willing to trade on a set of terms that have been thought out in advance and usually favour the party putting them forward. The other party is usually offered the terms on a ‘take it or leave it’ basis. A term that is not individually negotiated is more likely to be an unfair contract term by virtue of the Unfair Terms in Consumer Contract Regulations.
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It would require or induce all businesses in a particular trade sector to use the same standard form contract, thereby removing the possibility of competition between contract terms.
A survey shows that banks licensed in Australia have revised their standard form contracts so as to reduce the risks arising from the extraterritorial enforcement of foreign laws.
Standard form contracts are useful instruments when employed to express the reasonable expectations of parties who lack the time, the wisdom, or the occasion to negotiate a reasonable bargain.
Following the ACCC's intervention, three stevedoring companies, DP World Australia, Hutchinson Ports Australia and Victoria International Container Terminal, removed or amended terms in their standard form contracts that the ACCC considered were likely to be "unfair" under the Australian Consumer Law.
In discussing the UCTL, the party against whom a term in a standard form contract is alleged to operate unfairly is referred to as the 'consumer' and the party who is advantaged by the term is referred to as the 'trader'.
(160) A settlor in that situation often will not seek out the advice of an independent attorney and is thus indistinguishable from a consumer faced with a purchasing decision tied to a standard form contract. In addition, even if the institution refers the settlor to an outside attorney, she nevertheless may not receive the benefit of zealous advocacy.
More and more businesses are inserting arbitration clauses into their standard form contracts with Canadian consumers.
(73) A person who signs a standard form contract signals her consent to be bound by the terms set out in the contract.
Phase I of our Access to Justice Inquiry found small businesses are unlikely to take action when faced with an unfair contract term in their standard form contract.
As with every aspect of your business, having and using a standard form contract for venue entertainment ensures that everyone understands the business side of the deal.
The Baltic & International Maritime Council ("BIMCO") is the driving body behind the standard form contract, as currently supported by the Association of Ship Brokers & Agents ("ASBA") and the Singapore Maritime Foundation ("SMF").

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