LISTING PRICES IMPROPERLY WILL ALSO BE FINED?

Listing the selling price is not only a legal requirement but also ensures transparency and fairness in commercial activities. If listing prices improperly or confusingly to consumers, individuals and business organizations may face sanctions. So, what are the specific regulations on this and what are the penalties?

Business organizations and individuals are responsible for listing prices of goods and services

Listing prices is a form of publicizing prices, including the purchase price and selling price of goods and services of organizations and individuals trading in goods and services.

The purpose of listing prices is to ensure convenience for customers to observe and identify. At the same time, it serves the management of competent state agencies.

Listing prices of goods and services is an obligation of organizations and individuals trading in goods and services. This is also one of the contents that organizations and individuals trading in goods and services must publicly implement according to the provisions of laws.

Listed prices need to be determined according to regulations

As stipulated in the Price Law 2023,Listed prices are the purchase and sale prices of goods and services, including tax and fees (if any) of such goods and services in Vietnam Dong decided by suppliers of goods and services, except for cases subject to compliance with laws of foreign exchange.

Listed prices are in association with the appropriate quantity or volume of goods and services and other information (if any) on basic specifications, origins, and purchase and sale methods.

Listing prices of goods needs to be performed in the correct form, ensuring clarity and not causing confusion

Price listing can be implemented in the following form, ensuring convenience for observation and recognition by customers and competent state agencies:

– Printing, pasting, recording information on boards and paper; or

– Printing directly on the packaging of the goods; or

– Forms suitable to actual conditions at places where goods are sold, services provided or on electronic information sites.

Organizations and individuals trading in goods and services must list prices clearly and not to confuse customers about the purchase and selling prices of goods and services.

Penalties for listing prices improperly causing confusion

Organizations and individuals must list prices according to regulations, ensuring principles on clarity, not causing confusion for consumers.

In case of violation, organizations and individuals trading in goods and services may be subject to administrative sanctions according to the provisions of Decree 87/2024/ND-CP as follows:

Fines will be imposed for listing prices improperly, causing confusion for consumers

In case the price of goods or services is not clearly listed, causing confusion for customers, the fines applicable to each violation is as follows:

– For violating individuals, fines range is from 500,000 VND to 1,000,000 VND;

– For violating organizations, fines range is from 1,000,000 VND to 2,000,000 VND;

Forced to overcome consequences for the act of listing prices improperly, causing confusion for consumers

Organizations and individuals trading in goods and services will be forced to list prices in accordance with regulations.

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