Home topics news Credits: Gabrielle Henderson News News National Farmers’ Federation cheers reforms to tackle unfair contract terms Yajush Gupta November 14, 2023 The Australian Consumer Law sees significant reforms in the crackdown on unfair contract terms (UCTs), marking a victory for competition. The National Farmers’ Federation (NFF) applauds these changes, emphasizing the positive impact on farmers and small businesses, creating a more equitable business environment. NFF President David Jochinke highlighted the pervasive use of UCTs as evidence of insufficient competition in the economy. He emphasized the groundbreaking nature of the reforms, introducing penalties for businesses employing UCTs, a practice previously devoid of consequences. “The NFF acknowledges the Australian Government’s work introducing these reforms and supporting fair treatment of farmers and small businesses across the country,” Mr Jochinke said. “While the reforms are a step in the right direction, they’re not the end of the journey. There is still a lot of work the Government must do to promote competition in Australia and ensure a level playing field for farmers and small businesses.” Under the latest reforms, businesses now face substantial penalties, with amounts reaching up to $50 million or 30% of adjusted turnover during the breach period, whichever is greater. This robust deterrent aims to hold businesses accountable for the use of unfair contract terms. While commending the government’s efforts in implementing these reforms, Mr. Jochinke acknowledged that this is just the beginning. He urged the government to continue its work in fostering competition and ensuring an equitable playing