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New Regulations To Protect Online Trade Suppliers And Buyers In 2011

A recent news announcement says that the European Union (EU) has firmly backed a new regulation that offers to protect the rights of the online buying community in a better, stronger way. The law primarily aims to protect the interests of consumers who buy goods from online trade suppliers of another member country of the European Union.

Under the new rules, any consumer from the 27 member states of the EU would enjoy the same 14-day right to cancel a purchase when they order from online trade suppliers based abroad. Also, the delivery of the goods would be subjected to strict regulations, which do not happen now. In addition, it will become mandatory for websites of online business wholesalers to provide more detailed information about their identities and contact details as well as the prices of products.

The measures, according to the lawmakers in charge of the proposed regulations, would boost the confidence of consumers and also create more business opportunities for service providers. The intent is to limit the activities of dubious and unclear Internet offers, which are rampant on e-commerce trading sites. By setting up a multiple clicking solution, the consumers will have to confirm their acceptance of the terms and conditions mentioned on the suppliers’ website.

Under the present EU market conditions, buyers and sellers can trade across other EU member states. However, it is practically difficult for clients across borders to enjoy the same rights and privileges as local customers. It is pertinent to note that nearly 8 percent of the sales take place across borders due to legal fragmentation.

The new rules are seen as an attempt to stop dubious trade suppliers from taking cross-border customers for a ride. Dubious suppliers have become more brazen in their acts because they know that the variation in laws can help them escape censure.

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