CHAPTER I GENERAL PROVISIONS
Article 1(Purpose) #
The purpose of this Act is to establish sound order in business transactions, and thus to protect consumers and promote the balanced improvement of people's lives by preventing business persons from preparing unfair terms and conditions and using them in business transactions by taking unfair advantage of their bargaining position and regulating unfair terms and conditions.
[This Article Wholly Amended on Mar. 22, 2010]
Article 2(Definitions) #
The terms used in this Act are defined as follows:
1. The term "terms and conditions" means the content of a contract that a party to a contract prepares in a specific form in advance in order to enter into a contract with multiple other parties, regardless of their name, type, or scope;
2. The term "business person" means a party to a contract who offers terms and conditions to the other party as the content of the contract;
3. The term "customer" means a party to a contract who has been offered terms and conditions from a business person as the content of the contract.
[This Article Wholly Amended on Mar. 22, 2010]
Article 3(Obligation to Prepare and Explain Terms and Conditions) #
(1) A business person shall provide terms and conditions of a contract in Korean and use standardized and systemized terms so that customers can easily understand the details of the terms and conditions, and explicitly indicate important details thereof with signs, color, bold and large letters, etc. so that customers can easily recognize them. <Amended on Mar. 29, 2011>
(2) When entering into a contract, a business person shall clearly state to his or her customers the details of the relevant terms and conditions in a way that is generally expected for the type of contract in question and shall, upon the request of the customer, deliver a copy of the terms and conditions to the customer to help the customer understand them: Provided, That this shall not apply to terms and conditions of business or service that falls under any of the following categories: <Amended on Mar. 29, 2011>