You must be aware of your rights and responsibilities according to fair trading laws.

Trade Practices Act

The main federal law, the Trade Practices Act, ensures that trading in the marketplace is fair both for your business and your customers.

The Trade Practices Act (TPA), deals with almost all aspects of the marketplace: dealings with suppliers, wholesalers, retailers, competitors and customers. The TPA covers unfair market practices, industry codes of practice, mergers and acquisitions of companies, product safety, collective bargaining, product labelling, price monitoring, and the regulation of industries such as telecommunications, gas, electricity and airports.

The Australian Competition and Consumer Commission (ACCC) promotes good business practices for a fair and efficient marketplace. It provides businesses with information about federal competition, fair trading and consumer protection laws and is responsible for administering the TPA.

State fair trading laws

Each state and territory also has its own fair trading laws, usually referred to as the Fair Trading Act, with consumer protection provisions much the same as those in the TPA.

State and territory fair trading offices can give general advice on your business rights and obligations under fair trading laws. However, if you're unsure how fair trading laws apply to your particular situation, then you are encouraged to obtain independent legal advice.