If you provide services to clients and you need to keep track of contracts, then a good legal contract management system is crucial to your success as a business. Being able to update contracts in a timely manner in response to current and emerging legislation is so important. This is particularly true when it comes to the area of labour hire in Australia.
The Victorian Government established the Labour Hire Authority to take action on the Labour Hire Licensing Act 2018. It instated the need for all providers of labour to be licenced, and clients must only choose providers who are registered in this way. This is to reduce abuse and exploitation of labour workers in Australia.
The Labour Hire Authority will use registration numbers and certificates as evidence of a provider’s compliance. The most efficient contract lifecycle management tools will keep track of when such important documents such as these are due for renewal, ensuring evidence of compliance is obtained on the anniversary of each registration.
Fees Associated with Labour Hire Registrations
The Labour Hire Licence Act 2018 (the LHL Act) and the Labour Hire Licensing Regulations 2018 (the LHL Regulations) provide for the following fees:
- Application fee– A fee to apply for a licence
- Annual licence fee – A licence fee that is paid when a licence is granted and at the start of each 12 month period after that
- Renewal application fee – A fee to apply to renew a licence upon the expiry of an existing licence
- Application to vary a licence fee – A fee to apply to vary a licence
- Certified copy or extract of the Register fee – A fee to order a certified extract or copy of the Register of Licensed Labour Hire Providers
The exact fee amounts for your particular circumstance will vary according to the annual turnover of your business.
The Benefits of Using Contract Management Solutions
If your line of work means that you need to keep on top of changing regulations for your clients or manage lengthy contracts, then you could most likely benefit from contract management solutions. Here are some benefits of using contract lifecycle management tools:
Increase Efficiency
When you automate contract review processes, everything flows more efficiently. Everyone knows how to access the contract and where to sign on the dotted line.
Centralise Contract Location
When you centralise all your contracts digitally on the cloud, it’s easy to locate the right contract when you need it. You’ll always be working with the most up-to-date document.
Be Prepared for Audits
Being able to access a full digital history of your contracts with the click of a button is very handy come audit time. You will be fully accountable without hassle with contract management solutions.
Declutter Your Office
There’s nothing worse than being buried in paperwork, causing frustration and difficulty finding documents. Declutter now with contract lifecycle management tools.
Conclusion
When you’re dealing with changing regulations, it helps to work with a legal contact management system that allows you to keep on top of all legal requirements. There are many leading contract lifecycle management tools on the market these days that can make your life a lot easier. Do your research and choose one that suits you and your business.
Any good online contract management software provider will have made the necessary changes to client’s contract templates to ensure compliance with any new legislation. Never miss the renewal of this registration. The configurability of online contract management software ensures these changes can be made within 48 hours of client requests at no charge.
