News

News

The Law on Protection of Consumer Rights came into force on June 1, 2022

The Law on Protection of Consumer Rights came into force on June 1, 2022. The law regulates the relationship between the consumer and the supplier of the goods and is loyal to the consumer. It should be noted that the buyer would be able to return the items purchased online within 2 weeks without any argument. The trader is obliged to fully refund the amount paid to the customer, excluding delivery costs.

 

The new regulation should also protect consumers from misleading advertisements, so business entities are obliged to provide the buyer with accurate information about this or that product and its price. The business entity will also be obliged to indicate information about the product: name, legal and actual address, whether the item has a guarantee, the indicated price is only for the product if it is intended for installation or shipping, etc.

 

By law, the trader is obliged to deliver the goods to the customer without delay, but no later than 30 calendar days after the conclusion of the contract, unless otherwise provided by the contract.

 

If the company has not fulfilled its obligation within the prescribed period, the customer must provide the trader with a reasonable additional period of time to fulfill the obligation. In case of non-fulfillment of the obligation after the expiration of the additional period, the customer has the right to withdraw from the contract and demand compensation for damages in accordance with the rules established by civil law.

 

If the consumer finds a defect in the goods in his possession during the trade, then he bears the burden of proving or confirming this defect. The law stipulates 6 months for this.

 

If a breach is found, business entities will be notified first, and the next step is a fine, the amount of which should not exceed 2% of the company's turnover of the previous financial year. If it is impossible to calculate its annual turnover during the previous financial year due to the date of establishment of the fined trader, in this case, the amount of the fine shall be determined from the turnover calculated according to the period from the establishment of the company to its penalty. It should be noted that the severity of the violation should be taken into account when determining the amount of the fine.

 

In case of violation of the conditions provided by the Law on Consumer Protection, the consumer has the right to apply to the National Competition Agency, and the agency is obliged to investigate the possible violation of the consumer's law. In order to investigate the case, the agency will request information (including confidential information) from the applicant and / or the vendor. If the company has not provided the relevant information to the agency, it can go to court. However, it should be noted that the Competition Agency will be involved in law enforcement from November 1, 2022, in particular, the agency will start reviewing the application of a natural person from November, and before that, the relevant department of the National Competition Agency should be formed.

Share:
News

The rules and conditions for conducting periodic medical examinations for persons employed at night work have been established

The rules and conditions for conducting periodic medical examinations for persons employed at night work have been established
Read more
News

Supervision of the Leasing companies

Supervision of the Leasing companies
Read more
News

The National Bank of Georgia plans to make changes in the relevant bylaws in order to improve the operating environment of lending entities.

The National Bank of Georgia plans to make changes in the relevant bylaws in order to improve the operating environment of lending entities.
Read more
News

From May 12, 2021, significant changes will be made to the Law of Georgia on the Legal Status of Aliens and Stateless Persons.

From May 12, 2021, significant changes will be made to the Law of Georgia on the Legal Status of Aliens and Stateless Persons.
Read more
News

On April 1, 2021, a new rule of protection of consumers' rights while providing services by financial organizations came into force

On April 1, 2021, a new rule of protection of consumers' rights while providing services by financial organizations came into force
Read more
News

On February 22, 2021, the draft law on "Code of Enforcement" was submitted to the Parliament of Georgia for consideration.

On February 22, 2021, the draft law on "Code of Enforcement" was submitted to the Parliament of Georgia for consideration.
Read more
News

Significant changes were made to the Tax Code from January 5, 2021

Significant changes were made to the Tax Code from January 5, 2021
Read more
News

Significant amendments to the Labor Code came into force

Significant amendments to the Labor Code came into force
Read more
News

Visit to Georgia for business activities and / or work purposes

Visit to Georgia for business activities and / or work purposes
Read more
News

The procedure for entering Georgia for business and / or labor activities has been simplified for foreign visitors

The procedure for entering Georgia for business and / or labor activities has been simplified for foreign visitors
Read more
News

The Law on Competition is being amended

The Law on Competition is being amended
Read more
News

The "Children's Rights Code" came into force on September 1

The "Children's Rights Code" came into force on September 1
Read more
News

The Government of Georgia gives foreign citizens the opportunity to work remotely from Georgia

The Government of Georgia gives foreign citizens the opportunity to work remotely from Georgia. For
Read more
News

VAT reform based on international practice

VAT reform based on international practice
Read more
News

Georgia is starting to open the borders

Georgia is starting to open the borders
Read more
News

About subsidized mortgage loans

About subsidized mortgage loans
Read more
News

The State of Emergency was extended until May 22, 2020

The State of Emergency was extended until May 22, 2020
Read more
News

The National Bureau of Enforcement is switching to a fully electronic method of operation

From April 6, 2020, the process in the National Bureau of Enforcement will be simplified and
Read more
News

In one year the number of microfinance was reduced by 19

According to the National Bank of Georgia, there are 48 microfinance organizations operating in the country. Their number has declined by 19 during the past year.
Read more
News

What is the Asset Condition of Commercial Banks in Georgia?

As of December 01, 2019, the Georgian banking sector is represented by 15 commercial banks; 14 of them – with foreign capital in statutory capital.
Read more
News

Changes in licensing and regulation of brokerage companies

Within the framework of the Securities Market Regulatory Update Program, amendments were made to the "Brokerage Company Licensing and Regulation Rules" approved by the Order of the President
Read more