Local markets are pricing in 300-basis-points of rate cuts over the next two years.
Bill boon for consumer
Article By:
Tue, 30 Sep 2008 16:53
Effective consumer protection was brought a step closer on Friday
with the adoption in the National Assembly of the Consumer Protection
Bill.
Introducing debate on the measure, Trade and Industry Minister
Mandisi Mpahlwa said it was aimed at promoting and advancing the social
and economic welfare of South African consumers.
Among other things, the bill would provide for the establishment of
a statutory National Consumer Commission, with a mandate to proactively
identify, investigate, and prosecute contraventions of consumer laws
before the National Consumer Tribunal.
Fair and competitive
"It [the bill] seeks to regulate the commercial relationship between
a supplier and a consumer to ensure fair and competitive markets," he
said.
Some of the abuses it sought to address included unfair contract
terms, misleading and fraudulent advertising, non-honouring of
guarantees, abuse of personal information,
non-disclosure of terms and
conditions and poor product quality.
"The bill addresses these challenges by adopting a rights-based
approach, aimed at asserting consumer rights when contracting with
suppliers.
"These rights are designed in a manner that prohibits certain
conduct upfront, encodes common law principles, provides for the
establishment of effective redress mechanisms for consumers, recognises
and supports the role of consumer NGOs, and promotes customer
responsibility in the public and private sectors," he said.
The bill backed up these rights by giving consumers the right to
receive documents written in plain and understandable language. This
would prohibit unfair contract terms, enhance choice by requiring
disclosure and information on prices, contract terms, quality, safety,
guarantees and warrantees.
Advertising, marketing and promotions would have to adhere to
certain standards, including that they should not be
misleading,
fraudulent or misrepresent the benefits of any product, service, or
skill, Mpahlwa said.
Promotion proscription
The bill provides, among other things, that the minister may
prescribe certain days, dates and times during which consumers may not
be contacted for promotional purposes.
To enhance consumer choice, suppliers are prohibited from requiring
consumers to buy bundled goods or services, unless it can be proven
that it results in economic benefit for consumers.
The right to choose includes the right to decide whether or not to
continue a commercial arrangement during the course of an agreement,
and once it has expired.
The bill establishes the consumer's right to cancel a fixed-term
agreement, limits the rights of suppliers to impose cancellation
charges, and sets out rules governing the expiring of such agreements.
The right to choose also includes the right to cancel
advance
reservations or bookings. Suppliers may however charge advance deposits
and impose reasonable cancellation penalties.
The right to disclosure aims to ensure that consumers understand the
terms and conditions of the transactions or agreements they enter into
and are able to make informed choices about the products and services
they consume.
A number of specific marketing and selling practices are prohibited,
including bait marketing, negative options and referral selling.
The bill also regulates loyalty programmes and prohibits offering
prizes with the intention of not providing them.
There is also a ban on overselling and overbooking, which requires a
supplier not to accept consideration for any goods or services unless
they reasonably expect to have capacity to supply them, or intend to
provide goods or services that are materially different.
Good quality
The bill provides for consumers to
receive goods of good quality,
reasonably suitable for the purpose for which they are intended, in
good working order, free of defects, useable and durable for a
reasonable period of time.
Suppliers are obligated to accept the return of waste goods that may
not be accepted in the common waste collection system.
Prepaid certificates, credits and vouchers will remain negotiable
for up to five years, and the supplier is obligated to honour them when
presented.
The bill now goes to the National Council of Provinces for
concurrence.