Traders should expect new notifications from their platforms before the end of June
On 12 July 2020 a new EU regulation to promote “fairness and transparency” for traders who use online market places is due to come into force.
For the many thousands of traders that use platforms to market their goods and services, the P2B Regulations raise the level of fairness and transparency in the relationship with the platform. Key benefits for traders will be:
While some platforms will have already implemented changes to their T&Cs to reflect the requirements of the P2B Regulation, over the coming weeks traders can expect to see emails from their platforms notifying updates to the T&Cs. Traders will need to review these carefully to understand the impact of the changes, as it is possible some platforms will seek to implement changes beyond those strictly required.
At least 15 days’ notice of the changes is required before they take effect. Traders should note that if they add new goods or services to the platform during this notice period, they will be deemed to have accepted the new T&Cs. If the trader does not wish to accept the new T&Cs, they have the option to terminate the agreement with the platform before the expiry of the notice period.
How we can help?
This briefing note is for general information. Please contact us if you would like further information on how the P2B regulation may impact your business, and for assistance with reviewing new terms and conditions.
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