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Consumers given power to fight unfair exit fees

30/06/2010

New unfair contracts laws come into effect tomorrow, giving consumers the right to complain about ‘take it or leave it’ contracts, such as those used by banks and lenders. Consumers are often presented with standard form contracts to sign, from club memberships, mobile phone plans, car hire, holiday bookings or even just for downloading music.

ASIC suggests consumers ask four questions to determine if contract terms presented to them are fair or not. Does the term cause a significant imbalance between your rights and those of the service provider? Is the term necessary to protect the legitimate interests of the company? Would the term cause detriment to the consumer if enforced? How transparent is the term?

Source: The Age



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