The Australian consumer watchdog has given a retail tenancy database the green light.
The Jewellers Association of Australia (JAA) can work with members to establish and operate a retail tenancy database until December 31, 2019.
The authorisation was granted by the Australian Competition and Consumer Commission (ACCC).
The database will provide de-identified information about the terms and conditions of retail leases entered into by members of the JAA.
Members can choose to use this information in assessing their current and future lease arrangements.
ACCC deputy chair Michael Schaper said the Productivity Commission has previously recognised that some information asymmetries exist in the market for retail tenancies.
"The ACCC considers that the likely public detriment from the authorised conduct will be limited as participation in the Database is voluntary and the information provided is for guidance only. The JAA members will continue to individually negotiate and enter into leases that best suit their individual circumstances.
"Access to information is an important factor for tenants when discussing contractual terms and conditions with landlords. Increasing a tenant’s access to such information can improve their input into contractual negotiations. This can lead to outcomes that better reflect the commercial interests of tenants."
The JAA is a national not for profit organisation.
Membership is voluntary, and members include organisations from the manufacturing, wholesaling, distribution, and retail sectors of the jewellery industry.
The JAA estimates that its membership includes more than 75 per cent of the jewellery industry.