responsible credit
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Responsible Credit - A basic principle in the five principles on consumer protection of the International Law Association

The Committee on International Protection of Consumers, from the International Law Association (London) an Association founded in 1873 together with the Institut de Droit International, Paris developed with its. Sofia Declaration five basic international principles on consumer protection:

1.Principle of vulnerability

2.Principle of the most favorable protection

3.Principle of fairness and transparency

4. Principle of responsible credit

5. Principle of institutional participation of consumer groups

 

Professor Claudia Lima Marques, Brazil, chair of this committee and parther in the CRC movement  is one of the spiritus rector of this declation. Together with the Rapporteur Prof. Diego Fernandez Arroyo (Paris), Iain Ramsay (Kent) and Gail Pearson (Australia) they also published  a book on the financial crisis and the protection of consumers in English and Spanish. Brasilcon and the University of Porto Allegre (UFRGS) were the sponsor of the publication (to sale in:  www.asadip.org.py ) . Members of the ILA Committee on International Protection of Consumers can be found annexed.

 

The declaration hast he following wording:

 

RESOLUTION No. 4/2012

COMMITTEE ON THE INTERNATIONAL PROTECTION OF CONSUMERS

 

The 75th Conference of the International Law Association held in Sofia, Bulgaria, 26 to 30 August 2012:

 

HAVING CONSIDERED the Report of the Committee on International Protection of Consumers on the role of international law on contemporary consumer protection;

 

THANKS the Chair, the Rapporteur and the members of the Committee for the valuable work done, both on the Report and on the book prepared by the members of the Committee and the survey of the consumer protection laws and regulations in the global financial crisis;

 

RECOGNISING the emergence of the international dimension in consumer protection through the role of international law in helping to develop more equitable standards of consumer protection and the need to take consumers into account in international commerce;

 

ACKNOWLEDGING that consumers are usually the weaker parties in consumer transactions in general, and specifically in sophisticated contracts and also in respect of the quality and safety of products and services provided by the professionals or businessmen in the national, regional and global markets;

 

AWARE that the global financial crisis presents an opportunity to enhance consumer protection in its international and national dimensions;

 

DESIRING to contribute to the debate on the creation of acceptable and equitable framework principles of international consumer protection worldwide;

 

COMMENDS the Sofia Statement on the Development of International Principles on Consumer Protection annexed to this Resolution to international organisations, countries and consumer groups that are engaged in national, regional or international initiatives to assure international co-operation in consumer issues and to their advisers, with a view to focusing the attention of all concerned on the need to develop fair and equitable standards and models for all consumers in the world, without discrimination. 

 

 

 

SOFIA STATEMENT ON THE DEVELOPMENT OF INTERNATIONAL PRINCIPLES ON CONSUMER PROTECTION

 

 

Consumer protection should be guided by the following general principles:

1.      Consumers are the weaker party in situations of mass contracts or standard form contracts, in particular concerning information and bargaining power. 

2.      It is desirable to develop standards and to apply rules of private international law that would entitle consumers  to take advantage of the most favorable consumer protection.

3.      Regulation of consumer contracts should be effective and fair and ensure transparency.

4.      Responsible lending is incumbent on all those involved in consumer credit transactions, including credit providers, brokers and advisors.

5.      Consumer groups should participate actively in the development and regulation of consumer protection. 

 

Annex 1 in English

Annex 2 in French



ID: 48123
Publication date: 19/09/12
   
 

Created: 19/09/12. Last changed: 19/09/12.
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