The ACCC has today sent out information for franchisors relating to end of financial year documents they are required to prepare or update. These include: Marketing Fund Statement. Prepare the annual marketing fund financial statements and, unless the franchisees vote otherwise, an auditor’s report for that marketing fund statement. (Note: 75% or more of franchisees must vote that the statement does not need to be audited in order to avoid the latter requirement.) Disclosu...

In a significant legal development, the Federal Court of Australia has ruled against PayPal Australia Pty Limited (PayPal), declaring a specific contract term used in its agreements with small businesses to be unfair.  The contentious term in question allowed PayPal to retain fees charged erroneously if small businesses failed to notify PayPal of the error within 60 days of the fee appearing on their account statement. This provision shifted the burden onto small businesses to promptly ...

Happy New Financial Year from The Franchise & Business Lawyers! As we step into this new financial year, we extend our heartfelt gratitude to all our clients, partners and colleagues for their continued trust and support. Here's to another year of growth, success and prosperity! To kick off this new chapter, we would like to share a few important reminders regarding franchising and business law that you should consider for FY 2024-2025: Franchising: Ensure that you update yo...