Every country has its own trading laws. This is the reason why I wouldn’t enumerate any trading laws since I cannot be sure that you have a corresponding in law in your country or whether you even have an opposite law. What I will do instead is give you a few generic tips about trading laws.
1. Find out the trading laws in your country and figure out which one applies to your business. Remember ignorance is not an excuse. You’d better know the law or you might regret after breaking it unknowingly.
2. Realise that trading laws exist to protect not just the consumers but your employees and your business as well. This means that obeying them will benefit everybody. Learn about consumer protection/rights, health and safety at work, etc.
3. There might be a law or bill that will help you cut down on taxes or will give you special benefits. Do not miss out on these opportunities.
4. There are three trading standards that are upheld almost anywhere. These standards include:
safety standards – Products/goods you manufacture/sell should meet safety standards.
advertising – Misrepresentation or false advertising is punishable by law. Everything you make/sell should be as you claim them to be.
refund/replacement policy – Disallowing refunds (whether partial or full) and/or replacement of goods and/or parts is against the law. Of course this only pertains to goods that are faulty or misrepresented.
Originally posted on March 24, 2008 @ 12:29 pm