no shortchanging act

Sufficient Change for Consumers has Come

Consumers can better demand for sufficient change from establishments now that Republic Act 10909 or the No Shortchanging Act lapsed into law last July 21, according to Sen. Bam Aquino.
 
Sen. Bam sponsored the measure penalizing establishments that shortchange consumers in the 16th Congress, during his term as chairman of the Committee on Trade, Commerce and Entrepreneurship.
 
In his sponsorship speech, Sen. Bam said the Act aims to promote a culture of decency, integrity, and professionalism among Filipino businesses.
 
By giving consumers what they are due, down to the last centavo, Sen. Bam said it breeds the values of precision and fairness that should permeate through all Filipino businesses, including micro, small and medium enterprises (MSMEs).
 
“Naniniwala tayo na madadala at mapakikinabangan ng mga negosyanteng Pilipino ang kasanayang ito kapag lumaki at lumago ang kanilang negosyo,” Sen. Bam said.
 
The bill penalizes first-time violators with a 500-peso fine while the second offense will warrant a three-month suspension of the establishment’s license to operate along with a fine of 15,000 pesos.
 
The third violation will result in the revocation of the establishment’s license to operate and a fine of 25,000 pesos.
 
However, the law allows establishments to give more than the exact change, if situation calls for it.
 
With its passage, Sen. Bam now has 16 laws to his name, including the Philippine Competition Act, Go Negosyo Act, Foreign Ships Co-Loading Act, Lemon Law, Microfinance NGOs Act, Youth Entrepreneurship Act and Credit Surety Act.
 
As chairman of the Committee on Youth in the 16th Congress, Sen. Bam co-authored and co-sponsored the Sangguniang Kabataan Reform Act, the first law in the country with an anti-political dynasty provision.
 
In addition, Sen. Bam authored or co-authored other laws, such as the Act Authorizing Punong Barangay to Administer Oath of any Government Official, Customs Modernization and Tariff Act, Election Service Reform Act, Children’s Emergency Relief and Protection Act, Tax Relief for PWDs Act, Closed Caption Broadcasting for Television Act and the law establishing the Department of Information and Communications Technology (DICT).

Bam: Consumers now Protected against Shortchanging

Consumers will soon be protected against shortchanging with the bicameral conference committee’s approval of the measure penalizing establishments that shortchange consumers, according to the bill’s primary sponsor Sen. Bam Aquino.

The bicameral conference committee recently consolidated the versions of both houses. After both houses ratify the bicameral conference committee report, the bill will be transmitted to Malacanang for President Aquino’s signature.

The measure, known as the No Shortchanging Act, aims to promote consumer protection and the continued professionalization of micro, small and medium enterprises (MSMEs).

“This measure will require that price tags reflect the exact price to remind customers to make sure they aren’t shortchanged,” said Sen. Bam, chairman of the Committee on Trade, Commerce and Entrepreneurship.

The measure prohibits the giving of insufficient or no change and the giving of change in any form other than money, such as candy or other items.

The bill penalizes first-time violators with a 500-peso fine while the second offense will warrant a three-month suspension of the establishment’s license to operate along with a fine of 15,000 pesos.

The third violation will result in the revocation of the establishment’s license to operate and a fine of 25,000 pesos.

In his sponsorship speech, Sen. Bam said the measure promotes a culture of weaving decency, integrity, and professionalism among Filipino entrepreneurs.

The senator emphasized that giving consumers what they are due, down to the last centavo, breeds a culture of precision and fairness that should permeate through all Filipino businesses.

“Naniniwala tayo na madadala at mapakikinabangan ng mga negosyanteng Pilipino ang kasanayang ito kapag lumaki at lumago ang kanilang negosyo,” Sen. Bam said.

If approved by President Aquino, this will be Sen. Bam’s 10th law for the 16th Congress.

Sen. Bam’s Sponsorship Speech on the No Shortchanging Act

Senate Bill No. 265 under Committee Report No. 265

An Act Requiring Business Establishments to Give Exact Change to Consumers

 Senator Paolo Benigno “Bam” A. Aquino IV
16th Congress, Senate of the Philippines
Sponsorship Speech, October 6, 2015

 

Good afternoon, Mr. President and my distinguished colleagues.  Mga kaibigan, mga kababayan, magandang hapon sa ating lahat!

I am pleased to address you today in support of consumer protection and the continued professionalization of our micro, small and medium enterprises (MSMEs), as I sponsor Senate Bill No. 265, under Committee Report No. 265, entitled An Act Requiring Business Establishments to Give Exact Change to Consumers.

Mr. President and esteemed colleagues, as our economy continues to rise and a mounting number of Filipinos have more purchasing power, weaving decency, integrity, and professionalism into our social fabric becomes increasingly important.

This measure promotes such a culture among our Filipino entrepreneurs by prohibiting the giving of insufficient or no change.

This measure will also require that price tags reflect the exact price, including taxes, and that signs are posted to remind customers to make sure they aren’t shortchanged.

First-time violators shall be fined 500 pesos. The second offense will warrant a three-month suspension of the establishment’s license to operate along with a fine of 15,000 pesos. And a third violation results in the revocation of the establishment’s license to operate and a fine of 25,000 pesos.

In the advent of the ASEAN Integration and our rise to economic power, let us show the world that all Filipinos – from established corporations, medium enterprises and down to our sari-sari stores – can engage in business professionally, honestly, and justly.

 This practice of giving consumers what they are due, down to the last centavo, breeds a culture of precision and fairness that should permeate through all Filipino businesses.

Naniniwala tayo na madadala at mapakikinabangan ng mga negosyanteng Pilipino ang kasanayang ito kapag lumaki at lumago ang kanilang negosyo.

 Inaasahan ko po ang inyong suporta sa pagpasa ng patakarang ito.

 

 Maraming salamat!

 

 

 

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