viernes , enero 27 2023
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Wrong Price Tag Law Singapore

CCC Guidelines: Suppliers must ensure that any assurance that the price of a good or service is free is not false or misleading. All qualifiers, subsequent fees and terms and conditions must be clearly stated with the “free” representation. For free trials, providers are also encouraged to inform consumers before the trial period expires and provide clear information about subsequent fees charged and the cancellation process. “Price comparison” refers to the practice of comparing prices with those of competitors to reflect a competitive price and/or price advantage. Common phrases are “best price in Singapore” and “our price $30, elsewhere $50”. Advertise a price as an advantage over a competitor when this is not the case. The guidelines state that a supplier must include all mandatory fees or charges in the aggregate total prices. If the amount of such mandatory fees or charges cannot be determined at the time of notification, the Supplier shall clearly and visibly disclose the existence of such fees or charges imposed by the Supplier or other third parties. In the case of cross-border transactions, the trader must also disclose any additional charges related to currency conversions or cross-border payments, which may be subject to fees and will only be communicated to consumers after receipt of the final invoice. The guidelines, which come into effect on November 1, are intended to ensure that advertised “rebates” are genuine and that mandatory costs such as taxes and fuel surcharges are included in the pre-advertised price and are not hidden by so-called drip prices. Since assuming the additional management function of the CPFTA on April 1, 2018, CCCS has conducted four CPFTA-related investigations, three of which involved elements of suppliers engaged in unfair market practices related to price transparency: Before processing payment, the supplier should consider providing a final price breakdown for all mandatory and optional items.

with the corresponding functions “Remove from cart”. CCC Guidelines: Suppliers must ensure that all mandatory fees such as taxes, service fees and surcharges are included in the total price. Where mandatory fees cannot reasonably be calculated in advance, their existence should be clearly indicated in advance. An opt-in approach should be used for add-ons. Although not legally binding, suppliers would do well to familiarize themselves with and comply with the recommendations of the Guidelines as they demonstrate how the CCBC can interpret the CPFTA and the factors they can consider in assessing whether posted or advertised prices and pricing practices constitute unfair practices. Since assuming the additional management function of the CPFTA on April 1, 2018, CCCS has completed four CPFTA-related investigations, three of which involved elements of suppliers engaged in unfair market practices related to price transparency. The publication of the guidelines and these studies underscores the CCCC`s focus on price transparency. A supplier must ensure that the comparison with the prices of other suppliers is not false or misleading.

The Competition and Consumer Affairs Commission of Singapore on 7. The September 2020 guidelines aim to achieve greater price transparency for consumers. In order to accurately reflect prices, the basis for price comparison should be a genuine past price that has been actively and openly offered for a last reasonable period of time in the ordinary course of business. The supplier is advised to keep evidence of price developments. The period during which the promotional price will be available must be clearly indicated. The publication of the guidelines and these studies underscores the CCCC`s focus on price transparency. CCCS Guidelines: Suppliers must ensure that comparisons with competitors` prices are not false or misleading. Only prices of goods or services recognised by consumers or commercial standards as similar or equivalent should be compared and traders should periodically review, update and keep records of reference prices to demonstrate that price comparisons made are not false or misleading. Case noted that some electronics retailers offer “extremely low price guarantees” when there are no or no benefits of the lowest price. The terms of these warranties are not disclosed to consumers or are not readily available. In a separate case in December 2014, Singapore Airlines allowed about 400 passengers to travel in business class despite purchasing tickets at economy class fare due to a pricing error.

They target the prices displayed in the advertisement and cover four main pricing strategies: drip pricing, price comparison, discounts, and the use of the term “free.” “Discounts” here refer to the practice of comparing the price of existing discounted prices with the original or previous price of the same supplier. 3. False discounts that advertise a false discount on the regular price of a good or service. He said he reached the agreement on MBS`s website on November 28. He immediately booked a stay from March 31 to April 7. He received a confirmation email the same day, but was informed of the price change on Monday. The guidelines are intended to prevent companies from comparing their prices inaccurately with those of their competitors in order to demonstrate that they have an advantage. This is the practice of adding fees to an advertised price during the transaction process.

A common practice is to exclude booking and credit card fees from the advertised price and use pre-ticked boxes that require consumers to opt out of add-ons. The guidelines cover four areas: drip prices, price comparison, discounts and the use of the term “free”. The guidelines provide a welcome clarification of suppliers` obligations to communicate precisely and clearly the advertised prices and the conditions that accompany them, thus enabling consumers to make informed choices. 1. Drip prices, where fees are added to an advertised price during the transaction process. The Price Transparency Guidelines, first announced last year, set out how CCCS will interpret and apply the Consumer Protection (Fair Business Practices) Act to eliminate misconduct and identify actions businesses should take to ensure they do not break the law. One example is an electronics store that advertised a headset for S$25, stating that its competitor`s price was S$50. However, the competitor`s actual price was S$25, so there was no price advantage. SINGAPORE – Guidelines to ensure companies clearly state the prices of goods and services in their advertising were unveiled by the Competition and Consumer Affairs Commission of Singapore (CCCS) on Monday (September 7th). Mr. Lim Biow Chuan, President of Case, welcomed the guidelines, adding that they will help companies comply with the CPFTA and show them how to communicate their prices in advance and market their promotions. It is important to note that the supplier`s obligation to seek reference prices is not fulfilled by a refund offer if a lower price is found elsewhere for the same product or service.

CCCS cited the example of a magazine publisher that offered new subscribers a “free” tablet worth S$110 in a special promotion, but increased its subscription price by that amount, misleading consumers. Several people who booked rooms at this price were disappointed after MBS informed them via email that the price was a mistake. If pre-ticked boxes are used, businesses should know what additional goods or services are being offered and include those costs in the higher price displayed. Chen said he was disappointed when he received an email about the new award. Companies need to make sure of that. that additional costs such as taxes and surcharges are included in the total price, the guidelines say. If these fees cannot be calculated in advance, such as conversion fees, companies must clearly indicate them with the total price. Drip pricing is a strategy in which retailers advertise the price of an item without including any other costs, and then “drip” the additional fees as the transaction unfolds. For now, the price transparency guidelines are designed to give suppliers more clarity on how to comply with consumer protection laws, she said. The cost of the free gift, such as the cost price, should not be added to the price of the product or service.

Other costs that may be incurred in connection with the item, such as shipping costs, must also be clearly indicated. Any representation that the price of a product or service is “free” or “$0” must not be false or misleading. In addition to the “free” representation, the supplier must clearly state all qualifications, conditions and subsequent/deferred charges. On September 7, 2020, CCCS released the Price Transparency Guidelines (the “Guidelines”), which may serve as a basis for how CCCS would interpret the CPFTA with respect to the display and publication of prices by physical and online suppliers.