A new bill in Panama provides guarantees in real estate development and makes tips voluntary, among other topics.
Thursday, March 14, 2013
From a statement by the Authority for Consumer Protection and Competition (ACODECO):
ACODECO presented to the press a proposal which contemplates reforming Law 45 on Consumer Protection. The general manager of this entity, Pedro Meilan said that in the past, comments have been made over some points, mainly concerning housing, where the amounts are substantial and it is perhaps one of the main aspirations of human beings, to own their own homes.
From May 2006 until January 2013, ACODECO received 3.086 complaints against the real estate sector worth B/.225, 143,775.00.
Failure in contracts (969 cases worth more than 82 million dollars) tops the list of reasons, followed by failure with guarantees (615 cases worth B/.51 and a half million ) and thirdly, consumer demands for refunds (357 cases worth over 16 and a half million balboas).
With these reforms we believe that consumers will benefit because, in case of a claim, economic operators will be able to meet the demands.
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In Panama, Acodeco will be able to decide on warranty complaints without going to court, when dealing with products worth up to $5,000 and in the case of vehicles, up to $30,000.
The Authority for Consumer Protection and Defense of Competition (Acodeco), reported that on February 22 a law came into force which is "...Law 14 of February 20, 2018, which extends the rights of consumers and increases the amount on which the Authority has competence to rule on complaints, up to B /.5,000.00 and for motor vehicles up to B /.30,000.00.This allows a significant number of consumers, whose cases could not be resolved directly, had to take their claims to the Courts to obtain a decision."
In order to shorten court proceedings in the courts for competition, the Authority for Consumer Protection and Defense of Competition has proposed reforming Law 45 of 2007.
The Authority for Consumer Protection and Defense of Competition (Acodeco), proposes reforming the law in order to shorten the delay in giving rulings in trials on competition, a situation that harms markets and their interaction with consumers.
The Law on Promotion of Competition and Effective Consumer Protection recently approved typifies monopolistic practices and changes the rules on economic groups.
Two of the most important changes are expanding the scope of the law, which now includes public service employees in cases of concessions and the introduction of a new absolute monopolistic practice: the agreement between competitors to 'refuse to buy or sell goods or services'.
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