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IMPORTANT CHANGES TO COMMERCIAL CONTRACTS - CONTRACT AND COMMERCIAL LAW ACT 2017

The Contract and Commercial Law Act 2017 ("CCL Act") is set to make some practical changes to a wide range of commercial contracts and will come into force on 1 September 2017.

The purpose of the CCL Act is to modernise and consolidate 11 commercial contract statutes into a single piece of legislation under the CCL Act.

Some of the key statutes that will be repealed and consolidated into the CCL Act include:

-        Carriage of Goods Act 1979

-        Contracts (Privity) Act 1982 Electronic Transactions Act 2002

-        Sale of Goods Act 1908

-        Sale of Goods (United Nations Convention) Act 1994

It is important to note that the statutes have been re-written plain English, without changing the effect of the law, except for some "minor amendments to clarify Parliament's intent or reconcile inconsistencies."

References to these statutes will now be references to Parts of the CCL Act.

This is a timely reminder to review and refresh any contracts and terms and conditions to incorporate the above changes if you haven't already done so.  It's also a good opportunity to ensure that all contracts cover other recent reform, such as the repeal of the Credit (Repossession) Act 1997 and substantive amendments to the Fair Trading Act 1986 and Consumer Guarantees Act 1993. If you would like guidance on reviewing and updating your precedent contracts, our team are ready to help.

Written by Paul Milne at 00:00

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