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Commercial Contracts

90 day “PPS Lease” Abolished

90 day “PPS Lease” Abolished

From today, 1 October 2015, the Personal Property Securities Act will no longer operate to automatically give rise to a security interest in serialised goods (e.g. motor vehicles, motorhomes, aircrafts etc.) that are leased or bailed for a term of less than 12 months.

This is in contrast to the now outdated law which provided that leases or bailments of serialised goods for a period of more than 90 days, automatically created a security interest in the goods in favour of the lessor or the bailor. This meant that a lessor or bailor had to register a security interest on the Personal Property Securities Register (Register) to protect their interest in the goods. 

Do your commercial documents work?

Do your commercial documents work?

It is an integral part of doing business to have the following documents in place:

Terms of trade
Credit Application
Guarantee and Indemnity

These documents generally provide a level of security for a business when providing goods or services on credit terms. This security is usually provided through the Personal Property Securities regime and/or by requiring a Guarantee and Indemnity from the directors of the customer.

Repair, replacement or refund - who decides?

Repair, replacement or refund - who decides?

In 2013 six different Samsung products were recalled due to the discovery of an electrical fault that could lead to the products catching fire.

As a consequence of the recall, Samsung was obliged, under the Australian Consumer Law (ACL), to replace the recalled products or provide a full refund.

Small business update: Good news for small business

Small business update: Good news for small business

There have been a number of legal developments in the small business sector which should be welcomed as wins for small business operators.  This alert provides a summary of three of those developments that are particularly relevant following the Australian Competition and Consumer Commission’s release of its Small Business in Focus report for the six months to June 2015.

What are the legal requirements for schools and data privacy?

What are the legal requirements for schools and data privacy?

Schools collect and receive personal and sensitive information on a daily basis. What are the legal requirements for managing and using this data? Much of the personal and sensitive information collected by schools is, of course, essential to their day-to-day running.

Sham charities rife in wake of Cyclone Pam

Sham charities rife in wake of Cyclone Pam

Sham charities established to take advantage of generous donors seeking to help victims of Cyclone Pam in Vanuatu have come to the attention of the Australian Charities and Not-for-profits Commission (ACNC)

1,400 ACNC Charities face deregistration and loss of tax concessions

1,400 ACNC Charities face deregistration and loss of tax concessions

The ACNC have announced that up to 1,400 ACNC registered charities face deregistration unless they lodge their Annual Information Statement (AISby 30 March 2015. Each of these charities has failed to lodge their AIS for 2 consecutive years.  If deregistered, they will no longer be eligible for charity tax concessions including income tax, fringe benefit tax and GST.

Extended warranty offers can be costly to your business

Extended warranty offers can be costly to your business

In today’s retail environment, businesses regularly offer customers extended warranties for an additional price. When offering an extended warranty, it is crucial for the business to ensure that any offer for an extended warranty complies with the customer protections set out in the Australian Consumer Law (ACL). 

$8.3 million penalty imposed on Sydney forklift gas cartel

$8.3 million penalty imposed on Sydney forklift gas cartel

A total of $8.3 million in penalties was imposed by the Federal Court upon two forklift gas supply companies, Renegade Gas Pty Ltd (Renegade), Speed-E-Gas (NSW) Pty Ltd (Speed-E-Gas) and three individuals of the two companies, for engaging in cartel conduct restricting competition.

HO HO HO....when holiday plans go awry.

HO HO HO....when holiday plans go awry.

When the Rolling Stones cancelled not one but two Australian concerts in 2014, the ticket providers offered refunds to those concert ticket holders. But what about the cost of flights or accommodation?