Óscar Chinchilla, third vice president of the Congress, said, "The interesting thing about this regulation is that any breach of contract will mean the contract will become void so as to prevent companies from abusing the goodwill of the people who purchase goods or services."
"This legislation ... which will regulate the procedures applied by credit card issuers, mobile phones, life insurance, medical insurance and utilities like water and electricity, among other things ... will prevent fine print in contracts, using larger print, which must be legible and understandable to the consumer", reported Pensalibre.com
The changes include a prohibiting financial institutions from penalizing early repayment of loans.
According to an expert in consumer law, Jorge Eduardo Rooseess, this law is important because it "regulates all kinds of consumer relations with citizens, and because it appears that there is a willingness to provide the necessary force to an institution for it to defend consumer rights. "
The rights of Costa Rica insurance consumers to receive timely responses to any notice of a claim, complaint, reclamation or request filed with the insurers are to be preserved.
From the aims of the Rules of Defense and Consumer Protection Insurance
To define the minimum requirements to safeguard the rights of insurance consumers to receive a timely response to any notice of a claim, complaint, reclamation or request submitted to the entities as set out in Article 4 of the 8653 Act and sections 4 , 12, 48 of the contract Law Regulating the Insurance Act 8956 and the definition of the function and operation of an agency which protects the interests of the insured and the mechanisms for resolving disagreements with the insurance company for the execution of the insurance contract, which includes overseeing the process for making complaints in the event of a loss.
The National Union of Consumers and Users is to keep a registry of complaints and denouncements against developers and operators of real estate projects.
The initiative is being promoted by the National Union of Consumers and Users of the Republic of Panama (Uncurepa) and the Panamanian Institute of Consumer and User Rights (Ipadecu) who today will hold a forum entitled "Legal security, Decent Housing," which aims to bring together buyers who have been affected by abuse or failure on the part of developers.
Two lawsuits against the Bank of Costa Rica, based on fraudulent transactions on the Web, ended with sentences against the bank.
The message sent by the courts to the business sector is clear: fulfill your duty to provide security or you will be responsible for any damages suffered by your clients, even though you are not directly responsible.
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