Introduction of the Office of Fair Trading’s ‘Unfair Terms Hub’
As the government continues its attempt to make complicated legislation more accessible to businesses who must comply with it, significant progress has been made since the Office of Fair Trading (OFT) launched its ‘Unfair Terms Hub’ in August.
Research conducted by the OFT found that businesses were more than happy to comply with the Unfair Terms in Consumer Contracts Regulations (UTCCRs) but that many were simply unsure what they needed to do in order to satisfy the regulations.
It was found that a lack of time and limited resources prevent many businesses from meeting the regulations’ strict requirements and that they might benefit from some help in the form of a simpler format and a bit more guidance.
The Unfair Terms Hub was created by way of response to this need. It is an advisory website designed to help businesses and employers make sense of regulations that affect any contract terms they may have in place with their consumers.
It provides multiple levels of information to suit a range of requirements including:
- Quick – content includes ready to use materials for those who require only a simple level of understanding of the UTCCRs and how they might be affected.
- Detailed – content is simple and explains important areas of UTCCRs along with practical tips for those who need them.
- Guidance – the OFT’s existing unfair terms guidance is available in an online format along with examples, an easy A-Z index of terms search facility and useful unfair terms examples.
Though still in its infancy, the hub has been well-received by businesses dealing with consumers where contracts are involved.
At Royds, we can provide expert advice and guidance for business contract terms and on all aspects of business law. For more information, please contact John North.