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Legal Forums » Franchising Law Discussion Forum » Important changes to Australian franchise laws
Started Dec 17 2012, 06:44
Posts: 1473 |
Dec 17 2012, 06:44
Important changes to Australian franchise laws.
The Australian Competition and client Commission (ACCC) has declared changes to the Franchising Code of Conduct which will have an effect on all franchisors and franchisees.
These vital changes formally become law on March one 2008, therefore check that you perceive and implement them before then.
Here could be a outline of the most important changes:
- A franchisor should provide franchisees a replica of the franchising code, a revelation document within theneeded type and a replica of the franchise agreement within the type that it's to be dead a minimum offourteen days before the franchisee enters into any agreements with or pays any cash to the franchisor
- The franchisor should provide the franchisee any agreements that franchisee is needed to enter into beneath the franchise agreement (such as a lease or a confidentiality agreement) a minimum of fourteen days before the franchise agreement is signed
- The franchisor should disclose any relevant facts to the franchisee in writing among fourteen days of turning intoconscious of it
- Within four months when the tip of a yr, the franchisor should produce a revelation document for the franchisee in accordance with the code
- A franchisor's revelation document should embody references to the relevant conditions of the hooked upagreement that wear down the obligations of each franchisor and franchisee and different specific conditions of the agreement
- The Franchising Code currently applies to overseas franchisors that grant only 1 franchise or master franchise in Australia
- A franchisor should not induce a franchisee or potential franchisee to not go along with different franchisees or potentials franchisees
- A franchise agreement should not need a franchisee to sign any reasonably relinquishment created by the franchisor
- The Franchising Codes currently refers to the companies Act 2001 instead of the companies Law
It is vital that you simply follow these new rules, therefore scan the total ACCC truth sheet and find skilled recommendation from your attorney.
Dave
Contract ID#12357250
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