4th February 2010
The Office of Fair Trading (OFT) has today launched a
market study to examine when, how and why contracts may cause
difficulties for consumers.
The OFT intends to look at how well consumers understand typical
contracts and how this varies when contracts are, for example,
presented online, over the phone, or during a face-to-face sales
pitch.
The OFT will also look at how firms approach consumer contracts,
and any practices which deliberately or unintentionally
disadvantage consumers such as small print and unfair terms.
The results should be of benefit to firms who are trying to make
important terms and conditions clear to consumers buying their
products and services.
Heather Clayton, Senior Director of OFT's Consumer Market Group
said: "Today consumers are offered a range of complex contractual
arrangements, particularly for goods and services offered online.
We often see situations in many different markets where people lose
out as a result of not understanding contracts.
"We want to understand the cause of these problems and look for
remedies that will not only protect consumers, but also help those
businesses that are trying to provide clarity to their
customers."
The study is expected to be completed in Winter 2010.
Claims Financial