UNDERSTANDING CONSUMERS RIGHTS AND RESPONSIBILITIES
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As consumers, we have eight basic rights and five responsibilities. These are the rights to:
As consumers, we have eight basic rights and five responsibilities. These are the rights to:
Basic Needs
Safety
Information
Choice
Redress
Representation
Consumer Education
The five (5) responsibilities are:
The five (5) responsibilities are:
Critical awareness
Action
Social concern
Environmental awareness
Solidarity
LAW UNDER THIS:
LAW UNDER THIS:
The Consumer Act of the Philippines (Republic Act No. 7394): The law aims to promote the general welfare and protection of consumers against deceptive, unfair, and unconscionable sales, practices, and methods. Recognizing Scams and Frauds: What is a scam? A fraudulent scheme typically committed to cheat a victim into giving money resulting in the victim’s financial loss. Think Before providing personal information or giving away money, take a moment to pause and think about the credibility of the person or company you are dealing with, the soundness of the information being provided, and the possible risks of a certain action. Examine When in doubt, do not rush into a decision. Scammers usually create a false sense of urgency. Examine the situation first and ask questions. Challenge the person you are talking to about the things and ideas that you are not sure of and are uncomfortable with. Study Give yourself time to study and get as much information from different sources. Consult other people who are familiar to you or who are experts on the issue at hand. You can also get information from credible agencies like government institutions or reputable private organizations. Source: Securities and Exchange Commission
IMPORTANCE OF READING CONTRACTS AND TERMS OF SERVICES
IMPORTANCE OF READING CONTRACTS AND TERMS OF SERVICES
Gain a better understanding the fine print which is essential in determining the specifics and extent of the contract, including factors like duration, price, quality, quantity, and performance obligations. Neglecting to read the fine print can result in misinterpretations, conflicts, and legal consequences in the future.
A widespread illustration of the fine print in contracts is evident in credit card agreements. Credit card companies often offer attractive rewards, such as cashback or airline miles, to entice customers to sign up for their cards. Nonetheless, the fine print in these agreements may entail critical details that restrict or exclude rewards, such as minimum spending requirements, expiration dates, or blackout dates.
By comprehending the fine print in their credit card agreements, consumers can make informed decisions about which card to use, optimize their rewards, and sidestep unexpected charges or limitations.
Protect interests.
The fine print can be comprised of clauses or exclusions that limit or waive your rights, such as warranties, remedies, or liability protections.
Perusing the fine print can enable you to recognize potential hazards and adopt appropriate measures to safeguard your interests. Carefully scrutinizing the fine print in contracts can offer several advantages to protect your interests. For instance, suppose you're evaluating a service contract for home repairs that incorporates a warranty for the work completed. In that case, the warranty may be subject to specific requirements, such as regular maintenance or the utilization of approved parts or materials. If you neglect to read the fine print and neglect to comply with these requirements, you may unintentionally revoke the warranty and become accountable for the complete cost of any repairs.
Avoid surprises
The fine print can consist of concealed fees, charges, penalties, or other provisions that may lead to unexpected costs or repercussions. By scrutinizing the fine print, you can anticipate and prepare for such issues.
Reading the fine print in contracts can prevent surprises, as exemplified by signing up for a subscription service.
The primary aspects of the service, such as the subscription price and length, may be prominently displayed on the sign-up page, but there may be essential details hidden in the fine print. For instance, the service may automatically renew at the end of the subscription period unless the customer cancels, and there may be penalties for early termination. Without reading the fine print, the customer may be astonished to discover that they are locked into a long-term commitment or have been charged additional fees.
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