On April 26, 2023, the National Assembly promulgated the Law on Protection of Consumers Rights 2023 (LPCR 2023) replacing LPCR 2010. LPCR 2023 has addressed the limitations and shortcomings of the LPCR 2010 while also amending and supplementing numerous new provisions to enhance the quality of consumer rights protection in various transactions. LPCR 2023 has come into effect since July 01, 2024 with some provisions that have an impact on business operations, which businesses should be aware of, including the following:
(i) Supplementing the responsibilities of business organizations and individuals toward consumers in specific transactions;
(ii) Amending and supplementing regulations on dispute resolution methods;
(iii) Supplementing regulations on standard-form contracts, general transaction conditions.
