The trust envelope – a view

Warning: There’s been changes to the wording of different parts of the contract. Sound familiar, whether is it a Chemist, a Bank, Telco, or any transaction you may have experienced it before. The reality is you not asking hard questions means you have lost something. Let us quote Dr Sandy Donald responding to concessions given by the Queensland Health Minister reported on 15 April 2014: “There were a lot of areas that gave the doctors almost no power to influence decisions and also a lot of areas we felt were open to misinterpretation.” What is the point you say?

The point is it is modus operandi for most dealings today to exploit trust. A Prime Minister might say ‘I am confident’ rather than ‘I confirm’. However, we might expect the weasel word language from that profession. But what happens when a Chemist says: Will you accept a cheaper brand? Think about that question: Did the Chemist say I would pass on a price advantage to you? Well in all likelihood no, the contract is I will give you a cheaper brand, it makes no guarantee you will pay less. You need to ask that question: Will I pay less if I take a cheaper brand? You may find the answer is no!

Without a Bank example we are low end of the Scale, A major telco has used very similar language and supplementary information in a very similar way too. Namely, you received an offer to upgrade. On the surface you are much better off for a reasonable rise in administration fees. You receive a supplementary advice, including: ‘With approval bank, will transfer any promotional rates to the new account’. Feeling good, hey! The welcome pack arrives and the Letter of Offer contains the words: Acceptance will transfer the promotional rate for x period at xx%. Then in the second sentence it says: Upon Expiry, the rate will revert xxxx balance xxxx. Look carefully at this phrasing and supplementary information, as it is as the Dr in the opening part of this post said ‘open to misinterpretation’. Learn to ask the hard question: Did you or will you transfer the promotion rate to the updated card? Most likely answer is no. You might also be taken back to hear ‘If you did not ask the question we had no obligation to tell you’. It follows that once you accepted you have no power to influence the decision to expire the offer.

CO2Land org can hear you say, but we have rights. Not anymore, unless you ask the questions. Em, trust – that may be an error.

 

 

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