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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The Act would have exempted not just the development of a standard contract, but also "reaching a collective agreement among playwrights adopting a standard form contract developed pursuant to subsection (a) as the participating playwrights sole and exclusive means by which participating playwrights shall license their plays to producers.
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.
Courts are increasingly validating standard form contracts that eviscerate people's rights.
This analysis assumes that contracting occurs through standard form contracts offered to patients on a take-it-or-leave-it basis when they sign up for health insurance.
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.
More and more businesses are inserting arbitration clauses into their standard form contracts with Canadian consumers.
90) See Russell Korobkin, Bounded Rationality, Standard Form Contracts, and Unconscionability, 70 U.
73) A person who signs a standard form contract signals her consent to be bound by the terms set out in the contract.
A standard form contract is one which has been prepared by one party to the contract and where the other party has little or no opportunity to negotiate the terms.
The new law will apply to a standard form contract entered into or renewed on or after 12 November 2016.
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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