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There are specific obligations that your business must comply with that include pricing, safety, description of goods and services, and intellectual property. If your business sells a service, fair trading regulations also impact your company whether you sell to consumers or other businesses. Some businesses in the food, tobacco, alcohol, weapons, explosives, holidays and property markets also have specific fair trading regulations to comply with. Your commercial solicitor can help you ensure your company fully engages with the fair trading standards. The TSI oversees the whole fair trading initiative, but it’s your local Trading Standards Office that your business will have the most contact with. When a consumer makes a complaint about your business on the basis of fair trading – perhaps they allege your prices or descriptions are inaccurate – your local Trading Standards Office will investigate the complaint. If your business is investigated for allegedly breaking the fair trading regulations, the help, legal advice and support of a commercial solicitor will be vitally important. The fair trading standards are designed to not only protect consumers when they buy goods or services but to also provide businesses with a framework that they can use to govern the quality of the goods or services they sell. Your business must be fully aware of its responsibilities regarding the fair trading standards and comply with all the regulations that apply to your market sector. If you are unsure of your responsibilities under the regulations, contact a commercial solicitor for legal advice.
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