- 18th - August, 2022
Prakas on Cooling-off Period
The Ministry of Commerce issued Prakas No. 0113 on Cooling-off Period which sets out the legal framework that enables consumers to unilaterally withdraw from a contract for the sale of goods or supply of services during the cooling-off period. This Prakas will commence to apply from 12th October 2022.
In accordance with this Prakas, consumers will have the right to cancel certain transactions during the cooling-off period. On the other hand, business persons are obligated to provide information to consumers and are subject to fines for violations.