Disclosures On Consumer Protection Any company that sells its products or services to consumers has to follow these disclosure requirements. Different countries have different disclosure compliance requirements; however, the focus is always to ensure that the information is provided clearly and understandably to help them make informed decisions. This information generally includes: Name and address of the supplier. A detailed description of the product or service being sold. Unit price, order quantity, and total order value of the product or service. Whether the price is inclusive of discounts, taxes, and delivery charges. Modalities of payment method, delivery, installation, service, performance, order cancellation. The validity period of the offer. Rights of the customer after placing the order.
Disclosures On Company Law Compliance Every country has a Companies Acts in effect that is used to regulate how companies are formed and run in that country. Companies must abide by this Companies Act to start or continue doing business in the country. Few basic disclosures that companies have to generally mention on their website, invoices, letterheads, or receipts are mentioned below: Registered name of the company. Valid registration or identification number. Address of the place of registration. Valid address for communication. Valid contact details like phone number, fax number, email address, etc. Type of company - private limited or public. In case it is a public limited company, the Law requires the companies to disclose all their detailed business activities and audited financial statements in their quarterly or annual reports, to ensure the protection of shareholders’ rights.
Disclosures On eCommerce Business Due to the rapid boom of e-commerce ventures, Governments across the world have come up with disclosure requirements to ensure that the business is conducted legally and ethically. Generally, any e-commerce venture is treated as a service or information provider since in most cases they act as a platform to bring together sellers and buyers. Some basic disclosures that are required to comply are: Business name, address, and contact details of the e-commerce entity. Tax registration number. All the compliance requirements on Consumer protection if it operates on the B2C model. In case it operates on a B2B model, the company may choose not to disclose the various modalities of order execution and instead form a case-to-case basis agreement with their customer.
Disclosures On Service Regulations These sets of disclosures generally are related to the services offered by a company. Even though it does not directly address the sale of goods, it includes any after-sale service and workmanship related disclosures. Generally, the following information is required to be disclosed: An official and valid contact and address details for registering complaints. Any after-sales service warranties. Detailed scope of service agreement. Service provider’s affiliation to any trade body that requires adherence to a code of conduct, if applicable. Service provider’s insurer details, if applicable.
Disclosures On Data Protection This is done to ensure that customer’s data is not misused. Basi c disclosures that any company has to comply with when it is collecting customer’s data are: The identity of the data collector and controller. The purpose(s) for data collection. The intention to store the data, the duration of data storage, and any intention to process it further. Any intention to share the data with other companies and details of those companies and their purposes. Whether the customer must share the data and any eventual loss of benefit if the customer refrains from sharing the data.
Dsclosures on Privacy Cookies are used by the website to enhance the customer experience. However, to do so, companies collect data from the customers, which include their location through these cookies. Disclosure about the cookies collecting the data and consent from the customer is required to be followed by all websites.