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Eye of Riyadh
Eye of Riyadh
Business & Money | Monday 16 March, 2020 12:27 pm |
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ADDED issues circular to licensed company owners on committing to commodities’ fixed prices

The Abu Dhabi Department of Economic Development (ADDED) has issued a circular to licensed companies’ owners on maintaining the standard market price of goods and products while banning unjustified price hike. The circular was issued in accordance with the provisions of Federal Law No. 24 of 2006 on consumer protection and its executive regulations.

 

H.E. Mohammed Ali Al Shorafa, Chairman of ADDED, said that the circular was issued in line with the Abu Dhabi Government’s keenness to protect consumers’ rights in the emirate, as well as to curb business owners, traders, and distributors from taking advantage of the sudden surge of consumers buying their necessities.

 

H.E. Al Shorafa called on the private sector’s companies to cooperate and commit to what was stated in the circular, which enhances the strong public-private sector partnership in the provision of consumers’ primary needs, adding that the ADDED is committed to offer its full support to facilitate companies’ operations in providing services to the community. 

 

He added: “In case any violation has been stated, whether through reports or periodic inspection by teams affiliated with ADDED, it will be met with the strictest rule of the law according to the set  economic activities’ violations in Abu Dhabi, particularly Article 53 on not committing to selling according to the set or declared prices, or sale or  liquidations percentages authorized by the relevant entity.”

 

The circular also cited that when the retailer offers any commodity or service, prices must be declared clearly in local currency. It is also prohibited to impose additional fees or services on consumers without prior justification. In addition, a receipt must be handed to the customer including detailed prices without the mentioning of ‘Items cannot be returned or exchanged’ term within the receipt.

 

According to the circular, the provider should not advertise any product or service that could mislead the consumer to purchase the product. Providers are also prohibited from discriminating against consumers with whom to sell the good or service, in terms of price or quality of the product.

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