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UNFAIR TERMS IN STANDARD FORM CONTRACTS – A NEED FOR LEGAL REFORM IN E-COMMERCE TRANSACTIONS
Standard form contracts (SFCs) are agreements mostly used in E-commerce transactions that contain terms and conditions that regulate the rights and obligations of the contracting parties. They employ standardized, non-negotiated provisions, usually in preprinted forms which are mostly used for contracts of the same nature.
However, these contracts could abuse consumer rights because of the unequal bargaining power that exists in favour of the party who prepares the SFC, usually the business/supplier. The contracts may contain Unfair Terms which are prejudicial to consumers who have little or no choice but to accept said terms and conditions or leave them.
In Nigeria, the regulatory environment for the protection of consumer rights as it relates to unfair terms in SFCs is still largely insufficient and generally not specific.
In our article below, Cyril Anichukwueze, Juliet Oguejiofor, and Titofunmi Joseph Taoreed have delved deep to examine these unfair terms and the need for more specific regulation to protect rights of Nigerian consumers.
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Unfair Terms in Standard Form Contracts – FRA Law