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International award 2017

National Australia Bank (NAB)

Plain English loan contracts

National Australia Bank introduced plain English loan contracts to help small businesses.

According to NAB, 130000 business owners will benefit from their shorter, clearer standard loan form contract. The new contracts simplify contractual clauses, are shorter, and crucially, are written in plain English.

We hope the move sets a precedent not only in Australia but worldwide.

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