DTI approves removal of expiry dates on gift checks
- Marvin Sy () - June 29, 2010 - 12:00am

MANILA, Philippines - The Department of Trade and Industry has issued an administrative order removing the expiration of gift certificates, checks and cards.

Trade Undersecretary Zenaida Maglaya said that the order was issued last June 25 and would become effective upon its publication in early July.

Maglaya said the issue of the expiration of gift checks was discussed at the time when Peter Favila was still Trade secretary and in response to the complaints of consumers about the short usage period given by the sellers.

Business establishments typically impose an expiration of one-year from the date of issuance on their gift checks.

According to the DTI, the practice is contrary to the state policy on protection of consumer welfare and interest and promotion of fair, honest, and equitable relations between parties in consumer transactions.

It also argued that this is an unconscionable sales act or practice, which is prohibited under the Consumer Act of the Philippines, for being excessively one-sided in favor of the gift certificate/check issuer.

Maglaya said the DTI has held consultations with all of the stakeholders in its effort to find a win-win solution for everyone concerned.                  

CHECKS CONSUMER CONSUMER ACT OF THE PHILIPPINES DEPARTMENT OF TRADE AND INDUSTRY EXPIRATION GIFT MAGLAYA PETER FAVILA TRADE TRADE UNDERSECRETARY ZENAIDA MAGLAYA
  • Latest
  • Trending
Latest
Are you sure you want to log out?
X
Login

Philstar.com is one of the most vibrant, opinionated, discerning communities of readers on cyberspace. With your meaningful insights, help shape the stories that can shape the country. Sign up now!

SIGN IN
or sign in with