Blog

ABNs: What are they and why is it important to get them right on your business contract?

ABNs… a tiny little detail that is so easy to get right, and yet so often mangled.

Australian businesses are legally required to have an Australian Business Number, or ABN.

But what is an ABN? What’s the point of it? Why should you worry about getting them right on your contract, and what can you use them for?

I find clients either totally ignore them (which is a missed opportunity for gathering some intelligence about commercial partners) or else overemphasise their significance.

I suspect this is because ABNs are a bit of a mystery.

This video gives a quick rundown on ABNs.

Photo of Gemma Nugent

About Gemma

I help construction, engineering and consulting businesses create and negotiate clear contracts so they can achieve great project outcomes. I founded SoundLegal to help SMEs in the engineering, construction, consulting and light industrial sectors manage their risk to support business growth, by finding practical, common sense solutions to contractual and other legal challenges. Subscribe to the SoundLegal newsletter “No Jargon” to hear monthly business insights from me.

Share:

Related Posts

Cameron McEvoy’s gold medal method: data-driven contract management planning 

Australia’s remarkable success at Paris 2024 is epitomised by Cameron McEvoy’s first Olympic gold in the 50m freestyle. As an astrophysicist and mathematician, McEvoy’s unconventional, data-driven approach to training paid off, inspiring insights for contract managers. By leveraging data to identify risks, set realistic benchmarks, and create effective payment regimes, contract managers can achieve gold-standard outcomes in project management. Just as McEvoy refined his technique for Olympic success, using data from past projects can pave the way for more robust, future-focused contracts.

The Deal with Deeds

Have you noticed that sometimes your contract document is called a “deed”, and sometimes it is called a “contract” or

To receive Gemma’s insights into real-life contractual challenges and negotiations direct to your inbox, subscribe to our newsletter.

Price guide

So you’d like to know how much it costs for SoundLegal to help you manage your contract risk?

Wait no longer, download our current pricing guide.

Enter your email to
download our price guide: