Consumer Rights,Finance,Make Money,Online Investments

Archive for November, 2008

RIGHTS OF CONSUMERS IN CONSUMER PROTECTION LAWS ON DISTANCE TRADING PRACTICES

(Based on author’s site www.geocities.com/mlordc)

Many consumers in distance trading suffer financial loss or delays in mail order or online shopping -the consumer protection legislation and Distance Trading Regulations, in basic lay terms, are as follows…

In distant trading mail order companies (including in internet shopping or online shopping) in law do not have to tell you your rights -the entitlement to details exists only if you know your rights and ask ~but it is unlawful also in distance trading for mail order traders expressly or by implication (including orally) to mislead you or to seek to restrict the exercise of your rights in consumer laws.

Whether you have ordered goods from a catalogue, newspaper or magazine, television or internet advertisement, be they on approval or not, goods such as a jackets or dress or shoes, music CDs, video cassettes, DVDs or books, whether a one off purchase or periodically by club membership, paid for by cash or on credit, by debit or credit card, in full or in part, there are some consumer rights not commonly known under various consumer laws and mail order schemes which sometimes can save you time, effort, money.

For example, mail order companies must service serviceable goods they sell, and your credit card company also may be liable.

Catalogues usually subscribe to a mail order traders’ association whose logo they display, and there are expectations from them…

1. They must provide accurate information about such details as material used, colour, and size, of the goods they advertise, as well as regarding installation and anything that may restrict their use ~they must state any restriction on availability or delivery -as well as all charges involved, including any extra delivery charges.

2. You must be able within a stated period of time, usually two weeks, to return unwanted goods -if faulty or substitute goods (which must be on approval) post paid by them ~and if goods may require servicing you must be given fullest details if you ask.

3. You must be told how to complain should the occasion arise and speedily must be dealt with complaints and sympathetically.

Book or Music Clubs mostly subscribe to a mail order publishers association whose symbol they display and who must investigate complaints in case of failure in the following respects.

1. The main terms of any offer advertised must be stated clearly -must be accurate the details of quality, quantity, price, postage ~they must not be sent you unsolicited without an order (they must be returnable at seller’s expense if on approval); if you sent money it must be acknowledged with despatch date and any delay explained.

2. If you buy regularly you need not give a reason if you wish to cancel after a year, or if price increases exceed the expectation ~if debt collecting they must ensure not to unreasonably bother you.

Mail Order items advertised in a medium with a ‘protection scheme’ unless ‘classified’ are protected by advertising practice codes too ~the law requires advertisement to be ‘legal, decent, honest, truthful’ -’washes whiter than white’ is an obvious slogan and fine.

Internet or online shopping is equally covered in the Distance Trading Regulations –whether deliver is by mail or courier.

1. You have the right without giving a reason to inform the seller within seven working days (the day of receipt not counting) that you wish to return the goods. You do not have to actually return them within the cooling off period, e.g., if the seller takes his time to issue a return number. Such a cancellation, in law, is for the whole of the package, unless the seller agrees or can be shown by custom and practice to accept return of individual items -e.g., if its RMA request form asks without more for items wanted to be returned to be marked. If you choose to do so, you must return the goods undamaged. If you have paid money, you are entitled to a full refund within thirty days which must be in ‘cash’ -not as credit-note, nor voucher (this is an implied statutory term -a term or condition that makes this the seller’s option is void).

In consumer protection laws and Distance Trading Regulations this is so also if goods are faulty or misleadingly described or not fit for the purpose that the seller was told of or enquired from (including orally –e.g., by telephone) or knew or could reasonably be expected to know –in this case you are entitled also to any return costs (e.g., postage). You are entitled to a refund also if the sale was not fair in the circumstances.

The seller’s discretion to replace or repair is normally exercisable if, e.g., the defect has been discovered after a long time of use, e.g., six months. Reference in law is to ‘goods’ as distinct from their wrapping or packaging -not that they must not have been opened or used; but they must be returned in good condition in reason in the applicable circumstance.

(Any seals that the seller may lawfully ask to be agreed not be broken are only such as may be on the goods themselves and of a kind that would not restrict your legal right to try the goods, e.g., to decide whether you like and wish to keep them -except if the item sealed is “computer software or driver disk” [although it is difficult to see how, e.g., a printer or scanner can be tried without the use of its driver disk to see if one likes and wants to be keep or not within the cooling-off period]).

These legal obligations are of the sellers, directly to the customers, and are not affected by any liability on the part of the manufacturer, and any terms or conditions that exclude or restrict consumer rights given by law, e.g., that the customer must contact the manufacturer instead, even if agreed to, are void in law.

Sometimes are involved return or authorisation number request procedures for administrative purposes of the seller -sellers may not, e.g., by refusing to issue an RMA, lawfully refuse receipt of returned goods.

If in relation to returning goods within the seven-day cooling off period the customer mentions a reason [whether asked or not], e.g. that they are faulty or not fit for the purpose, that does not affect the customer’s right to return them within seven days of receipt, and does not entitle the seller to treat such a reasons to, e.g., insist to repair or replace them under any other terms and conditions.

If goods are returned as faulty and the customer states that the return is for refund, any authorisation bars the seller from exercising any otherwise exercisable discretion. Any such ‘returns policy’ of the seller that, e.g., faulty goods or liability (including for injury or damage resulting from faulty goods) will not be accepted (or that will not be accepted unless made, e.g., within fourteen days of purchase), has no validity in law and any, e.g., internet return-forms that do not open may be tantamount to attempt to unlawfully seek to limit liability or the exercise of the consumer’s rights -as well as absence of ‘good-will’ on the part of the seller and in it’s own right make the contract void and be ‘unfair trading’.

If you are under age, the seller sells you totally at his own risk, because no contract entered into with a party who is under age is binding, and you may not be held to any terms and conditions in case of any dissatisfaction.

2. If you have paid money for goods to be despatched at the seller’s convenience but have not received the goods within thirty days (unless made-to-measure goods or plants or you have agreed to wait longer -when a despatch date must be quoted) you are entitled to a refund -the medium that advertised it must find out if the advertiser has folded and try to get it for you if you claim with full details in reasonable time (normally within two months of ordering from a magazine or three months of the date of a newspaper advertisement -also your credit-card company may help if you paid by credit-card).

Trading Standards, Office of Fair Trading may be complained to -they do not disclose your identity without your consent. If on evidence they have a good reason to prosecute the seller, upon conviction you may claim compensation -including for unnecessarily caused expenses, e.g., postage, travel, correspondence, telephone calls. (But a word of caution: they rarely prosecute at the absence of many complaints or the seller’s not agreeing to amend its trading practices –and (while on the face of it perhaps similar to a police officer’s ignoring a burglary on that ground) not only if a complaint is frivolous but also if it is considered vexatious may they not prosecute.) Your money claim must still be in the County Court or the Small Claims Court.

Suing Consumer protection laws allow arbitration; you may also sue via the internet in the small claims court. If you are suing in the County Court a company you may do so at one local to you, but if suing one or more persons trading as a business it may have to be where it is located. In court protocol you need only send one Letter Before Court to the seller, and you must spell the seller’s name correctly -if a company is limited by guarantee its details are available from the Companies House –including the names of its company secretary and director/s with their direct contact addresses.

Unsolicited Goods in the case of, you do not need do anything -normally the goods become yours if you hear no more for six months or if you inform the seller but they are not collected within a month.

Do keep the receipts for monies paid and any documents.

(Sanctions against traders are not necessarily of lasting effect in the general spirit of lawful distance trading practices: e.g., the Aria Technology Limited was found in 2000 [ICSTIS report no. 81] by omission considered unintentional to have mislead the consumers, and in 2005 [Nominet DRS 02364: Atek –v- Aria] by commission intentionally to have done so. Should you wish legally justifiably in the public interest to alert fellow consumers, there are also consumer comments or consumer complaints sites on the internet where you may lawfully do so.)

(Laws change –always ascertain current law.)

The author has a website at: http://www.geocities.com/eoa_uk

Many people are not aware of what consumer complaint is. With this article I want to bring to the knowledge of the general public of what a customer complaint is and what are the powers of a customer complaint. Many a times we are not satisfied with a product or its services. We just wish that there

Consumer complaint educates costumers in raising their voice against injustice. If we are not satisfied with a product or a service or an organization concerned, then we have every right to complaint against it. Consumer complaints can be made by writing a complaint letter. A complaint letter is a legal way of accomplishing one’s demand.

To promote and protect the rights and interests of consumer, consumer protection laws are implemented by the Government. Some of the consumer protection rights are Right to Safety, Right to Information, Right to Choice, Right to be heard, The Right to Redress, The right to consumer education.

If these laws are not followed by the organization or by the person concerned, then the consumers have every right to complain against the violation. Consumer complaints help to protect the rights of the consumers.

Consumer complaints are a legal way of filing one’s dissatisfaction for a service or product. It is a legal way of filing a claim. Our Government has assigned us certain freedom and certain consumer protection rights. It is the duty of the organizations and the Government to safeguard these rights.

Consumer forum India has helped many to realize their rights. Consumer Forum is a means to protect consumer rights. Online consumer forums are available in the internet which helps distressed costumers to fill up their consumer complaint letter. General public need to keep a constant check of their rights so that their customer rights could be protected . Many people are unaware of their rights and so they become victim of injustice and a complaint letter helps a costumer to demand those rights.

But these rights are not always executed either by the organization or sometimes by the law. So, there is always a need for costumer protection.Sometimes complaints fall on deaf ears, they go unheard, that is why there is always a need to register these complaints.

The interest of the costumers can be protected by encouraging healthy competition in the market which serve the customers and not harm their integrity. These complaints can be registered in a consumer forum India . The aim of consumer forum is to enforce consumer protection.Sometimes customers are not aware of their rights. Customer forum is a response towards the ongoing conflict between the customers and their protection. The consumer forums file the complaints of the customers and advice them on the related issues.

Many customer protection rights are formulated across the world but they are not implemented. Consumer forum is a bridge for communication between different people on matters related to customer complaints. Customers in a consumer forum fill up a form a register their complaints. The complaints are then reviewed and necessary measures are then taken. Thus, consumer complaint helps public realize their value as a customer.

The field of corporate finance deals with the decisions of finance taken by corporations along with the analysis and the tools required for taking such decisions. The principle aim of corporate finance is enhancing the corporate value and at the same time reducing the financial risks of the company. In addition to this, corporate finance also deals in getting the maximum returns on the invested capital of the company. The major concepts of corporate finance are applied to the problems of finance encountered by all type of firms. Corporate finance group deals with medium and large corporate clients and offers complete solutions to meet our clients’ financial requirements. The management of corporate finance attempts to maximize the firm’s value by making investments in the projects that have a positive yield. The finance options for such projects have to be done in a proper manner.

            Achieving the goals of corporate finance requires that any corporate investment be financed appropriately. Management must therefore identify the optimal mix of financing-the capital structures that result in maximum value. Management must also attempt to match the financing mix to the asset being financed as closely as possible, in terms of both timing and cash flows. Many factors should be considered like investment objectives, policy frameworks, institutional structure, sources of financing and expenditure framework etc. There are various considerations where shareholders pay tax on dividends, companies may elect to retain earnings, or to perform a stock buyback, in both cases increasing the value of shares outstanding etc. Thus, the goal of corporate finance is the maximization of firm value. In the context of long term, capital investment decisions, firm value is enhanced through appropriately selecting and funding NPV positive investments. These investments, in turn, have implications in terms of cash flow and cost of capital.

            Investment banking is one of the most global industries and is hence continuously challenged to respond to new developments and innovation in the global financial markets. It deals with raising capital, trading in securities and managing corporate mergers and acquisitions. Investment banks earn profit from companies and governments by raising money through issuing and selling various securities. There are many investment banks operating in the field of investment banking and finance. Investment banks, or I-banks, issue securities, manage portfolios of financial assets, trade securities, help investors purchase securities, provide financial advice, and support services. Finance areas are responsible for an investment bank’s capital management and risk monitoring. By tracking and analyzing the capital flows of the firm, the Finance division is the principal adviser to senior management on essential areas such as controlling the firm’s global risk exposure and the profitability and structure of the firm’s various businesses.

            When raising capital for a firm, an investment bank is acting as an intermediary between investors and the issuer. Capital raised can come from private investors or from pools of capital obtained within the public markets. They also engage in numerous proprietary activities in the financial markets. Investment banks also provide merger and acquisition services, both on the buy and sell side of a deal. The buy side involves identifying and facilitating the acquisition of a target company, while the sell side involves taking a client company to market at auction and identifying and facilitating the sale to a high bidder or acquirer with a strong strategic fit.

            New products with higher margins are constantly invented and manufactured by bankers in hopes of winning over clients and developing trading know-how in new markets in the field of investment banking. Product coverage groups focus on financial products, such as mergers and acquisitions, leveraged finance, equity, and high-grade debt. Thus, investment banking and finance can be one of the best options for your investment management and capital structuring.

It is difficult for businessmen to concentrate towards the growth of his business if he is short of finances. Also financial help is a must for people who want to start their own business. Small business finance helps you with all your financial needs. It is meant for small business houses and can be availed in two forms secured and unsecured small business finance. It is also open to people suffering from bad credit history.

BASIC INFORMATION ON SMALL BUSINES FINANCE

As the name suggests small business finance is meant to provide financial help to small business houses. You can also avail small business finance if you want to start your own venture. Small business finance is basically of two types, secured small business finance and unsecured small business finance. To avail secured small business finance you will have to place one of your properties as collateral against the loan amount. This can be any of your property like car, home, bank account etc. Placing a security helps you to avail small business finance with lower interest rate and flexible repayment duration. Also you can avail large amount of money by placing collateral of high equity. On the other hand no such collateral is needed to avail unsecured business finance, but the interest rate is slightly higher compared to secured business finance and also the repayment duration is shorter. Small business finance can also is availed by people suffering from bad credit history.

SMALL BUSINESS FINANCE: ADVANTAGES

Small business loans are advance to businessmen running small business or those who want to start their own venture. Small business finance is available in both forms, secured and unsecured small business finance. If you don’t want to risk your property you can avail unsecured small business finance, but if you want to avail loan at low interest rate secured business finance is the best option for you. Small business finance open to all be it good credit borrower or bad credit borrower. Anyone suffering from arrears, defaults, CCJ, IVA, bankruptcy etc can also avail the benefits of small business finance.

SMALL BUSINESS FINANCE: SUGGESTION

While applying for loan, always give preferences to a well known lender having good reputation in the market. Also search well before applying for loan. With good research you can avail a lender offering small business finance at reasonable interest rate. Small business finance is the best option for small business house and for people wants to start their own venture.

In general terms complaint means an act of displeasure, a state of being dissatisfied, but legally a complaint is a legal form where someone files a claim. Where one party is not satisfied with the service of the other organization or person and claims relief for the damage caused.

To protect the rights of the customers, Government has amended certain rules and laws so that the rights of the customers could be protected. Government has amended six rights for the customers. The six rights are



Right to Safety

Right to Information

Right to Choice

Right to be heard

The Right to Redress

The right to consumer education

If these rights are not taken care of by an organization or a person, then a customer can file a legal complaint against it. Consumer Complaint forum has been introduced where a customer can lodge his complain online. Legal complaint can be filed by means of a complain letter which is a way of accomplishing one’s demand in a firm and respectful manner. A person doesn’t have to run from a lawyer to other to file his complaint. Online Customer forum is a platform where customers are provided with guidelines and advices for proceeding their complaints and filing it. This procedure saves time as well as money.

Customers are sometimes not aware of their rights and they are sometimes cheated and duplicated.So, there is a need to protect their rights.Consumer forum is a means to protect the customer rights. In a consumer forum a person has to register one’s complaint and should follow the advices given by the team of experts. This process is also gaining popularity here in India.

Initially people were not responsive towards their rights, but with growing popularity of complaint forum, consumers have become more responsible towards costumer affairs. Consumer Forum India takes due care of customer affairs.

Customer protection rights have an important economic dimension, as it embrace not only political freedom but also the freedom to lead a life with dignity, free of domination and discrimination. The consumer complaint aims to provide authentic and analytical help to those who are not aware of their rights.

A customer complaint legally helps a person to voice one’s opinion and claim its customer rights. It helps a customer to raise its voice against injustice. Customer Complaint tries to protect costumer rights by defending costumers towards malpractices, by prohibiting certain illegal practices.

Customer Forum India helps protect consumer rights through the means of campaigning, protesting and lobbying. It educates customers against corrupt and illegal practices. Consumer Forum India helps the distressed customers to gain some solace through experts’ advice and guidance.

The customer interest can be protected by encouraging healthy competition. There can be a healthy competition if there is cooperation between the customers and the corporates. Customer’s rights can be preserved if both the customers as well as corporates understand each others value. A cordial relationship will help in maintaining a harmonious environment in the society.

Everybody is looking to get rich quick. There are many investment opportunities you are faced with on a daily basis. From get rich quick schemes, to offers of money from an estate from overseas, to stock investment opportunities. Using the internet as your tool, you can research any opportunity you may think will be profitable.

It used to be that when you wanted to invest in the stock market or make an investment in a new company, you had to go to a broker and he/she would do the trading for you.

With the advent of computers and online investing, it has become an entirely different animal. You can easily invest your money yourself, if you take the time to educate yourself about the process.

No longer do you have to put your money in the hands of someone else. You can do research about online investing before you put out a single penny of your money. With all the knowledge that is within the average person’s reach, there is no excuse to be taken in by clever con-artists or scams.

When you learn about an investment opportunity through the internet, it is best to assume that it is not legitimate. Whether you find these offers in a newsletter, chat rooms, or the website of a company you are unfamiliar with, it is best to proceed as if it were a scam.

Get your facts straight before you put money on the line. Before you spend money you can ill afford to lose, find out if the investment is registered. There are a few ways you can do this. You can check out the EDGAR database which belongs to the SEC. You may not find a smaller company registered because it isn’t mandatory. You can contact the securities regulator in your state to find out if the company you want to do business with is registered there. This number can usually be found in the government section in your local telephone book. If you have trouble finding it, you can call NASAA or the North American Securities Administrators Association, or you can visit their website.

Most investments that are scams, involve securities that are not registered. Even if the company you choose is registered, and has filed the proper reports with the SEC, does not

mean that it is a good investment. The opposite can be true too, just because your company isn’t registered, nor files a report with the SEC, doesn’t necessarily mean the company is a fake.

You might be setting yourself up for a serious loss when you invest in a company that isn’t widely recognized, just because of some tip you may have found on a message or bulletin board, or someone was throwing around advice in a chat room. You can make a simple call to your state regulator to ensure the company you are thinking of investing in is a legitimate investment.

From there, you can do the research about the investment, to be sure it is something you are willing to risk your money on.

Buying a business investment without real estate requires specialized business opportunity financing. Although this kind of business financing is available, there are several potential problems which should be anticipated and avoided by prospective buyers.

In order to buy a business, a commercial borrower is likely to need business financing. If the business includes commercial real estate, the borrower will need a commercial mortgage. If the business purchase does not involve real estate, a business borrower must use a business opportunity loan.

When obtaining a business opportunity loan, borrowers will discover that many lenders simply do not provide business loans that do not include real estate as part of the business purchase. There are several other important business financing issues to analyze prior to buying a business without commercial property.

The level of interest for buying a business opportunity investment has increased due to the reduction of activity involving residential real estate investing. However, because there are so many critical differences between financing residential real estate and business financing, it is important for potential business owners to educate themselves before proceeding.

This summary is designed to address the unique business financing requirements involved when real estate is not involved. Our suggested approach to business opportunity financing is provided below.

Prospective business owners should begin business opportunity investment financing plans by formulating a realistic assessment of cash available for a down payment and desired maximum business purchase price. In most business financing scenarios, a total down payment approximating 25% of the purchase price is advisable. Usually seller financing is permissible for a portion of the down payment, but a potential buyer generally needs to plan on investing a minimum of 10% or more of the purchase price from their own funds even if the seller is providing 20% or more.

Purchasers should evaluate whether a Small Business Administration loan is relevant for their particular business financing and investing circumstances. This step is both important and somewhat complicated, and the involvement of an SBA loan expert is strongly advised. Among the issues to explore are whether collateral is available for SBA financing and how important refinancing is to your overall business opportunity financing process.

Buyers should make an early determination concerning the length of lease to be arranged in conjunction with buying the business. As noted previously, business opportunity financing and investing does not involve the purchase of commercial real estate, so arrangements must be made for a long-term lease. The length of the lease is important because the normal business finance terms will restrict the length of business financing to the period covered by the lease (although buyers should anticipate a ten-year maximum for investment business loans). For example, with a seven-year lease, the commercial loan is likely to be for seven years, and even with a fifteen-year lease, the commercial financing will probably expire in ten years.

Even though real estate is not included in a business opportunity transaction, buyers should nevertheless investigate whether including real estate is a viable option or not in order to buy a business. With the inclusion of commercial property, you can obtain a longer business loan and the interest rate will be lower. However, improved business financing terms should not be the sole factor you look at, since the absence of a commercial mortgage can prove to be a significant advantage in a declining real estate market that currently exists in many areas of the country.

Investors and buyers should discuss business finance options with a business opportunity loan expert before making any offers to buy a business investment. These discussions should include issues such as down payment possibilities, potential purchase price, seller financing, tax return requirements, buyer credit scores and collateral options.

As a final precautionary note, in most circumstances the availability of business opportunity financing is more restricted than commercial real estate financing. There are also some problems unique to business opportunity loans, and commercial borrowers should make every effort to avoid these potential business financing complications.