The Federal Court has found that certain terms in standard form contracts that Bendigo and Adelaide Bank Limited uses for its small business customers are unfair and void. The impugned terms fall into four categories: indemnification clauses, event of default clauses, unilateral variation and termination clauses and conclusive evidence clauses. Tamasin Jonker was one of the barristers who appeared for ASIC in this first case that it has brought under the unfair contract terms regime in the ASIC Act.
Australian Securities and Investments Commission v Bendigo and Adelaide Bank Limited [2020] FCA 716
