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VietNamNews

Firms learn promotion regulations

Update: December, 30/2014 - 09:08
Year-end sale in Vincom Center Dong Khoi in HCM City. — Photo baodautu.vn
HCM CITY (VNS)  — The HCM City Department of Industry and Trade last Friday held a conference to familiarise local companies with the Commercial Law's provisions governing sales promotion and several other aspects of business.

According to a department official, there were 25,000 promotions and sales programmes registered in the city this year, but without supervision to ensure their integrity and transparency.

He spelled out the regulations for promotions.

Those offering freebies, coupons, discounts, and frequent shopper programmes have to send in written applications to provincial or city Trade Services sub-department at least seven working days in advance.

The maximum value of freebies or the maximum discount on goods and services must not exceed 50 per cent of the original.

Discount programmes must not exceed 45 days at a time and 90 days in a year.

Those offering promotions featuring games of chance and lucky draws have to inform the competent government agency in writing about the results within 45 days, and deposit 50 per cent of the value of the prizes that were not won by anyone.

They will also have to publish the results on at least one media outlet and at the business venue.

Violations of any of the rules can attract a penalty of VND25-80 million (US$1,200-3,800) and result in seizure of exhibits.

At the conference held in co-operation with Singaporean business consultant Singapore Standard, officials also held forth on how to avoid unhealthy competition and safeguarding customers' rights. — VNS

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