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14/12/2001
Trading Standards offers advice on dual pricing
DETI Trading Standards Service (TSS) has offered advice to retailers who are planning to accept the euro, as well as sterling, from January 1, 2002.
The TSS said in all circumstances the sterling price for goods must be displayed. If the retailer wishes to accept euro currency they should ensure their practices, signs and pricing enables consumers to clearly establish the price in euros.
Shops should also clearly display the conversion rate and any commission which they charge for euros. This information should be placed prominently either at the cash registers or on all goods.
Issuing the advice a TSS spokesperson said: “As the January sales approach, there will be many shop owners who wish to attract customers from both sides of the border and will decide to accept both sterling and euro currency. These retailers need to be aware of certain legal requirements that they must adhere to.
“It is also important that there is no confusion between the exchange rate for cash transactions in euros and the rate that may be applied by credit card companies. TSS recognise that it is a matter for individual shops and traders as to whether they will accept payment in euro currency from 1 January 2002.
“However, if they do, then clear price indications in both currencies, coupled with unambiguous exchange rates and commission charges, is not just a legal requirement but good practice for progressive retailers and their customers.”
TSS also warned that traders could face fines of up to £5,000 for disregarding pricing rules. (MB)
The TSS said in all circumstances the sterling price for goods must be displayed. If the retailer wishes to accept euro currency they should ensure their practices, signs and pricing enables consumers to clearly establish the price in euros.
Shops should also clearly display the conversion rate and any commission which they charge for euros. This information should be placed prominently either at the cash registers or on all goods.
Issuing the advice a TSS spokesperson said: “As the January sales approach, there will be many shop owners who wish to attract customers from both sides of the border and will decide to accept both sterling and euro currency. These retailers need to be aware of certain legal requirements that they must adhere to.
“It is also important that there is no confusion between the exchange rate for cash transactions in euros and the rate that may be applied by credit card companies. TSS recognise that it is a matter for individual shops and traders as to whether they will accept payment in euro currency from 1 January 2002.
“However, if they do, then clear price indications in both currencies, coupled with unambiguous exchange rates and commission charges, is not just a legal requirement but good practice for progressive retailers and their customers.”
TSS also warned that traders could face fines of up to £5,000 for disregarding pricing rules. (MB)
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