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1.
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Q:
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What is the Price Tag Law under
R.A. 7394? |
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A:
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The Price Tag Law, as embodied
in R.A. 7394, requires that all consumer products sold in retail
to the public shall bear an appropriate price tag, label or
marking indicating the price of the article. Such consumer products
shall not be sold at a price higher than that stated therein. |
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2.
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Q:
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Why is there a need for Price
Tag? |
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A:
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The price tag is need for the following
reasons: |
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- To provide buyers with adequate information
and guide to enable them to compare quality and prices of
goods and patronize stores selling quality products at low
prices.
- Its presence will discourage and minimize
haggling which is a waste of time, money and energy of both
buyer and seller.
- It also expedites transactions and enables
both the buyer and the seller to use the time and energy
for more productive endeavors
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3.
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Q:
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What is a Price Tag? |
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A:
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A price tag is a device attached
to a commodity stating the price at which it is offered for
sale. |
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4.
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Q:
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What are the characteristics of
a Price Tag? |
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A:
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A price
tag should:
- be clearly written;
- state the price of the commodity per unit
(piece, kilogram, meter, liter, etc.) in Philippine currency,
except when a law or regulation allows consumer products
to be sold in foreign currency such as in the case of duty
free shops;
- bear no erasures or alterations of any
sort.
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5.
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Q:
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When are erasures or alterations
in price tag allowed? |
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A:
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Erasures or alterations are allowed
only in price reduction sales promotion compaigns. |
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6.
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Q:
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Are articles offered for sale at
wholesale covered by the law? |
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A:
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No, only goods at retail are covered
by the law. |
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7.
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Q:
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Is the use of codes in price
tag allowed? |
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A:
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Generally, prices of consumer
products and services shall not be written in code. However,
if it is used in addition to price tags, labels, markings or
price lists, it is then allowed. |
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8.
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Q:
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When is a price list allowed? |
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A:
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The price list is allowed when:
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- a consumer product is too small or the
nature of which makes it impractical to place a price tag
thereon;
- in case of consumer services.
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9.
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Q:
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Is the price tag required on
samples or dummies on display? |
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A:
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Yes, samples or dummies of
products offered for sale on retail when displayed within the
retail outlets shall also bear the prices of products which
they represent. |
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10.
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Q:
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Is price tag required for lumber? |
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A:
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Yes, in the case of lumber sold,
displayed or offered for sale to the public, the same shall
be tagged or labeled indicating thereon the price and the corresponding
official name of the wood. |
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11.
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Q:
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What is the penalty for violation
of this provision? |
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A:
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The penalty for this
violation are:
A violation for the first time shall subject
the person to a fine of not less than Two Hundred Pesos
(P200.00) but not more than Five Thousand Pesos (P5,000.00)
or by imprisonment of not less than one (1) month but not
more than six (6) months or both, at the discretion of the
court;
A violation for the second time shall also
carry with it the penalty of revocation of business permit
and license.
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