Customer rights: key terms, laws and organisations
A list of key customer rights terminology made simple including terms such as consumer, reasonable, Consumer Credit Act and Financial Conduct Authority.
Get familiar with common terms, laws and organisations relating to customer rights:
- Competition and Markets Authority - a government agency that protects consumer interests, while ensuring that businesses are fair and competitive.
- Consumer Credit Act - contains provisions that can make credit providers jointly liable for any problems that arise with a purchase.
- Consumer - someone who is buying your goods and services but is not doing so for business purposes.
- Digital Markets, Competition and Consumers Act 2024 - protects consumers from unfair treatment by traders and places a general requirement on traders to act fairly and honestly. The regulations replace most of the provisions of the Consumer Protection from Unfair Trading Regulations 2008.
- Customer - someone who is buying your goods and services. A customer may be a consumer or someone acting on behalf of a business.
- Financial Conduct Authority - a government agency that protects consumer interests while promoting healthy competition between financial services firms.
- Reasonable - Is mentioned throughout the Consumer Rights Act 2015. Reasonable is not defined in law but generally it is taken to mean a standard of quality, conduct or time that the average person would consider fair and appropriate in the circumstances.
- The Consumer Rights Act - requires goods to be as described, fit for their purpose and of satisfactory quality. If they are not, the customer may be able to reject them.
- The Trading Standards Service - is part of the Department for the Economy and enforces consumer protection laws in Northern Ireland.
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