11Cooling‑off period

11 Cooling‑off period

(1) If the term of a horticulture produce agreement is for a period of 90 days or more or is not specified, either party to the agreement may terminate the agreement within: (a) 14 days of the agreement being entered into (the initial cooling‑off period); or (b) such shorter or longer period as is agreed under this clause. (2) The initial cooling‑off period may be extended if the parties agree. (3) The initial cooling‑off period may be reduced only if the trader has received a signed statement from the grower under subclause 8 (1). (4) The initial cooling‑off period must not be reduced by more than 7 days. (5) To avoid doubt, if a horticulture produce agreement is terminated during a period mentioned in subclause (1), any trade that has occurred under the agreement before the termination is governed by the terms of the agreement. (6) Any payment, of money or other valuable consideration, that was made for the purposes of, and directly related to, trade that would have occurred after the termination of the agreement, must be returned to the party who made the payment, within 14 days of the termination. (7) A party to the agreement may deduct from the amount to be returned under subclause (6) reasonable expenses incurred under the agreement for the purposes of, and directly related to, trade that would have occurred after the termination of the agreement.