A GEELONG rental business has avoided an Australian Securities and Investments Commission (ASIC) undertaking over unfair contracts.
Household goods supplier Mr Rental Australia, which has a Ryrie St franchise, will have to refund more than $300,000 to 1560 customers nationally after ASIC ruled it had charged an unfair fee for terminating agreements early.
Mr Rental accepted an undertaking to change its contracts to remove the fee and to tell existing customers they would not have to pay the charge for ending agreements early.
Geelong franchisee Piyush Goyal said he had never charged the fee since opening his store a year ago.
“None of my customers have anything to worry about.”
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