Build a one-sided terms table under the ACL or the ASIC Act
Key facts
- Human involvement
- YellowClose supervision
- How AI is used
- Flag termination, variation, liability, auto-renewal and unilateral-change terms that may fail the three-limb unfair-terms test; cite clauses and draft issues.
- What the lawyer must review
- Confirm the contract is standard form
- Confirm small business: under 100 staff or under AU$10M turnover; no value cap since Nov 2023
- Check penalty: greatest of AU$50M, 3× benefit or 30% of adjusted turnover
- Check cases on AustLII
- Apply the ASIC Act, not the ACL, to financial services
- Written for / version
- Commonwealth versionCth
Rules that apply
The document starts from the task name. Change it if this piece of work is different.
Who does what
| Role | What they do |
|---|---|
| Assistance | Potential support includes preparing preliminary structure or wording and identifying points for review. Confirm the tool’s capability and permitted scope. |
| Lawyer | Set the scope, supervise the work closely, verify every part relied on, resolve omissions and exceptions, and approve the exact output. |
Checklist
- Trace every relied-on figure to its source, confirm dates and assumptions, and independently recalculate totals or derived amounts.
- Review operative clauses in the complete document, including definitions, cross-references, schedules and inconsistencies with the instructions.
- Confirm the output against the client’s instructions and the complete relevant source material, including omissions or contradictions.
- Resolve exceptions and record the responsible lawyer’s approval of the exact output and intended use.