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Unfair contract terms
Our work in the retail market has consistently found that some firms do not treat their customers fairly. The Unfair Contract Terms Team reviews contract terms that are referred to it by consumers and through that work we see many examples of significant deficiencies in firms' standard form consumer contracts. We see this as an example of how the general TCF agenda has failed to take hold in a specific area.
A consumer contract is a document that crystallises the relationship between the firm and the consumer. The fairness of terms in consumer contracts is an important part of Treating Customers Fairly throughout the whole product life cycle. If a contract contains unfair contract terms, it is a black and white example of firms not treating their customers fairly.
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Consumers should not face unreasonable post-sale barriers imposed by firms to change a product, switch provider, or make a complaint. Post-sale barriers can be cultural, contractual or competitive, but ultimately, the consumer must feel confident that they are able to switch providers without incurring excessive penalties. For example, if mortgage exit administration fees are unfairly increased, how can firms satisfy themselves that they are meeting this particular TCF outcome?
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Unfair contract terms
Our work in the retail market has consistently found that some firms do not treat their customers fairly. The Unfair Contract Terms Team reviews contract terms that are referred to it by consumers and through that work we see many examples of significant deficiencies in firms' standard form consumer contracts. We see this as an example of how the general TCF agenda has failed to take hold in a specific area.
A consumer contract is a document that crystallises the relationship between the firm and the consumer. The fairness of terms in consumer contracts is an important part of Treating Customers Fairly throughout the whole product life cycle. If a contract contains unfair contract terms, it is a black and white example of firms not treating their customers fairly.
............................
Consumers should not face unreasonable post-sale barriers imposed by firms to change a product, switch provider, or make a complaint. Post-sale barriers can be cultural, contractual or competitive, but ultimately, the consumer must feel confident that they are able to switch providers without incurring excessive penalties. For example, if mortgage exit administration fees are unfairly increased, how can firms satisfy themselves that they are meeting this particular TCF outcome?
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