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19th August 2019
:: Blog | January 2009 (12 blogs) | Client Agreements and Unfair Contracts

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Client Agreements and Unfair Contracts 
I was alerted to this little gem of a document published by the Financial Services Authority within which it considers the use of terminology in Client Agreements. It’s an important document for financial advisers. It is also important for employers and trustees using the services of Independent Financial Advisers who are engaged to help employees and scheme members in any advice process, such as retirement planning. Making sure Third Party services have correct documentation makes sound compliance sense and can only be a positive step in any future complaint process. 
The FSA cites the Unfair Terms in Consumer Regulations 1999 in such agreements and tells us that:  
  • 'Firms should draft contracts in plain and intelligible language and must also give consumers a proper opportunity to read all of the terms of the contract. Consumers should check the details of the contracts they enter into.
  • But a contract term requiring consumers to declare that they have read and understood the terms of the contract is likely to be unfair because it binds consumers to terms which, in practice, they may not have any real awareness of.'
An interesting and illuminating read. See:
Mike Jones,, 27th January 2009

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