Fair Pricing Agreement

Updated: 09.08.2011

UNOFFICIAL TRANSLATION

I      The purpose of the Agreement and general provisions:

1.1.    The purpose of the Fair Pricing Agreement (hereinafter referred to as the Agreement) is to avoid unjustified price increase of goods and services in the course of changeover to the euro area currency (hereinafter referred to as the euro). Avoiding the abuse of the euro changeover process concerning the prices of goods and services is of the essence in achieving the purpose.
1.2.    Subscribing to the Agreement is voluntary but when subscribed the provisions provided by the Agreement become obligatory to follow.
1.3.    The subscriber to the Agreement understands and observes in his/her business activity the following:
1.3.1.         the relations between the parties of a transaction in the course of offering goods and services must rely on mutual honesty, respect and trust;
1.3.2.         business activity which is in compliance with the principles of good faith and reasonableness contributes to fair and free competition and maintaining the good reputation;
1.3.3.         successful changeover to the euro contributes to accelerating the economic growth and enhances the competitiveness of Estonian economy.

II      The subscriber to the Agreement:

 2.1.    assures fair pricing of his/her goods and services and undertakes not to abuse the euro changeover process to rise the prices of goods and services offered by him/her;
2.2.    acts according to his/her best knowledge in order to prevent also his/her business partners from abusing the euro changeover process in connection with pricing policy;
2.3.    displays the prices of goods and services in a clearly and unequivocally manner;
2.4.    provides information to his/her employees in connection with the euro changeover process and assures that the employees are in the scope of their work assignments aware of the rules and instruction papers concerning the euro changeover and also competent to explain the rules and provisions deriving from the instruction papers to his/her clients if necessary;
2.5.    makes sure that in connection with offering the goods and services the relevant information concerning the euro is easy to find with the help of his/her employees.

III     The subscriber has the right:

3.1.    to use in the course and at the place of offering his/her goods and services a logo with the following text „€ hinda ei tõsta“ (€ does not rise the price), which declares the affiliation with the Agreement. The subscriber gets the right to use the logo for free.

IV     The subscriber to the Agreement is aware of the following:

4.1.    by using the logo mentioned in clause 3.1. of the Agreement the subscriber declares publicly of being affiliated with the Agreement and having taken the obligation to follow the provisions of the Agreement;
4.2.    in case of subscribing to the Agreement the following of it is expected till the end of the legal obligation of dual display of prices;
4.3.    a public list along with contact information of subscribers to the Agreement is composed.