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Like most other things, I would assume the specific wording of the contract is what's important here. For example, the contract could easily say:
1. You will be paid a daily rate of £x.
2. You do not have any right to terminate the contract.
3. Client reserves the right to terminate with 1 weeks notice.
4. Client reserves the right to alter the daily rate as stated in Clause 1 at any point throughout the contract without affecting the validity and enforceability of any other clause of the contract.
If you agree to that, you're at their mercy.. Same as when a certain clause is found to be legally unenforceable but all other clauses remain valid.
The other clauses remain valid but the contract will still have been breached.
Edit: oops, yes didn't spot 4. if that's contrived to prove a point then yes, technically correct, but the contract could be judged unfair if it went to court.
These terms are from IBM - Experis and I believe many contractors are on with these terms
They are the same, yes, but my client is not IBM this time.... And it's not just Experis who have these same terms for IBM, it's the same if you work for the other side of IBM through Hays too...
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