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Fair Trading Act
TTFTC promotes fair competition, equal business opportunities, and transparent practices in Trinidad and Tobago.
Key Provisions of the Fair Trading Act
The Fair Trading Act creates an institutional framework for the enforcement of competition policy in Trinidad and Tobago and addresses major issues including:
- The abuse of monopoly power (dominant position is defined as controlling more than 40% of the market)
- Anti-competitive mergers
- Anti-competitive agreements and
- The enforcement of the relevant clauses or enforcement measures.
Specific anti-competitive practices that are prohibited under the Act include resale price maintenance, price-fixing, collusion, cartels and bid rigging.
The Act is of general application. There are however certain sectors where the Act does not apply including:
