Business / Commercial

Business / Commercial

Are your Terms of Trade up to scratch?

Created: Sunday, 15 November 2015 21:30

Your terms of trade (also called your terms and conditions or terms of supply) ("Terms") are one of the most important if not the most important document you give your customers. Well drafted and well thought out terms of trade can be the difference between getting paid in a reasonable amount of time or not or even worse not getting paid at all. They can also effectively limit your liability in certain situations. Brookfields Lawyers regularly help business owners ensure that their terms of trade provide them with the protection they need.

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Leasing Tips for Franchisors

Created: Monday, 16 November 2015 10:01

At Brookfields our franchise lawyers are regularly asked to review leases on behalf of our clients who are proposing to purchase a franchise business.  The lease will contain significant long term obligations on the franchisee which can last after the have sold the franchise business.  A franchise lawyer will look very carefully at the terms of the lease and the implications for their client.  A badly negotiated lease can make it extremely difficult to sell a franchise and can affect the long term profitability of the franchise business. 

By understanding what a franchise lawyer looks at when reviewing a lease franchisors can tailor their lease negotiations to address these issues where possible. Brookfield's franchise lawyers have prepared this guide to help franchisors understand the issue which they consider when reviewing leases. 

This guide contains a list of some of the issues which a franchise lawyer will consider when reviewing a lease.  However, it is not meant to be a definitive list of all of the issues a franchise lawyer will look at.  There are of course other issues which Brookfields' franchise lawyers will look at depending on the individual circumstances of our franchisee client, the franchise system and the premises. 

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New Director requirements in force 28 October 2015

Created: Thursday, 22 October 2015 21:30

This year has seen the implementation of a number of changes to the information companies must provide to the Registrar of Companies and also to the requirements for directors.

All new companies and all companies filing annual returns must now provide details of the dates and places of birth of their directors and their ultimate holding company. If there are changes in the ultimate holding company notice of these changes must be given to the Registrar of Companies within 10 working days of the change. A director's birth information is not made public.

From 1 May 2015 all new companies were required to have at least one director that either lives in New Zealand or lives in Australian and is a director of an Australian company.

On 28th October 2016 this requirement will be extended to existing companies and all companies filing annual returns after this date must indicate whether any director is living in Australia is also a director of a company incorporated in Australia and provide details of that company.

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A Franchisor's Guide to General Security Agreements

Created: Tuesday, 20 October 2015 09:55

A Franchisor's Guide to General Security Agreements (GSA's)

It is becoming increasing common for franchisors to require their franchisees to enter into a General Security Agreement or a GSA as it is more commonly known. This guide aims to assist franchisors to make informed choices about whether or not they should require their franchisees to enter into a GSA and if they do, what priority should their GSA have when compared with a bank's GSA?

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The Harvey Norman Computer Glitch - the legal issues

Created: Wednesday, 07 October 2015 23:21

The recent computer glitch which resulted in 300 Harvey Norman customers purchasing furniture at incorrect prices would have to be an online retailers worst nightmare.  Reports indicate that on 1 October 2015 between the hours of 1am and 8am Harvey Norman’s website offered furniture at heavily discounted prices.  A 3 piece lounge suite was advertised at $103, a 2 piece lounge suite was offered at $95 and a wooden table and chairs were offered at $159.  Harvey Norman has since apologised for the error and at the date of writing this article Harvey Norman has reportedly so far refused to honor the prices electing instead to offer customers a $100 voucher.

So where do the customer and Harvey Norman stand legally? 

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Your guide to the legal aspects of franchising in New Zealand

Created: Wednesday, 07 October 2015 15:03

NO FRANCHISE SPECIFIC LEGISLATION

Unlike Australia and other countries such as the USA and Canada, there is no legislation in New Zealand dedicated to franchising. From a legal perspective there are no barriers to entry – no compulsory disclosure documents or registration requirements. There are however a number of general legal requirements which have application to franchising and this guide contains a summary of the main ones.

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