Fair Competition Commission (FCC) published a second notice in October 2015 that:
- With effect from 1 January 2016, all “standard form contracts” should be registered with the FCC and are subject for review.
- All standard form contracts in use, should also be submitted for registration and review by the FCC.
We understand the FCC position at the moment is that standard form contracts can still be registered with the FCC without late filing penalties or fines until a notice of fines shall be published in due course by FCC on their website.
A “standard form contract” is defined as an agreement created by one party that employs standardised, non-negotiated terms and conditions, usually in pre printed forms.