Transcription of Guidance for Traders on Pricing Practices
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Guidance for Traders on Pricing Practices
For trADErsoN Pricing prACtICEs1for trADErsGUIDANC oN Pricing prACtICEs2 IntroductionRelevant legislationGlossaryThe regulatory frameworkProfessional diligenceVulnerable consumersGeneral requirementsBanned practicesPrice promotionsIs your Pricing practice unfair ?Getting it wrongDoes your promotion contain false information?Is your Pricing practice deceptive even if it is factually accurate?Have you told consumers what they need to know?Use of additional textUsing reference prices After-promotion price Introductory price Recommended retail price (RRP) Comparison to a competitor s price Comparison with prices in different circumstancesTime limited offersVolume offersUse of free Additional charges Compulsory charges that are fixed Compulsory charges that may vary Optional charges Up to and from for trADErsoN Pricing prACtICEs1 This Guidance has been produced by the Chartered Trading Standards Institute at the request of the Department of Business, Energy and Industrial Strategy (BEIS) and the Consumer Protection It replaces the 2010 Pricing Practices Guide, produced by the then Department for Business, Innovation and Skills (BIS), which is now withdrawn.
The most important legislation in this area is the Consumer Protection from Unfair Trading Regulations 2008 (referred to in this guidance as ‘the Regulations’), which prohibit traders from engaging in unfair commercial practices with consumers. The Regulations implement the Unfair Commercial Practices Directive in the United Kingdom.3
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