OFT launches marketing strategy for codes approval scheme - Business Credit News UK
Member's Login


Save password
Forgot your password?
 Why Register?
 Register Now

Latest News Highlights
Winding Up Petitions (Companies) Notices - 19 December 2014
Meeting of Creditors Liquidation Notices - Section 98 of the Insolvency Act 1986 - 19 December 2014
New Links
Scotland Debt Solutions
Real Business Rescue

Dec 21 2014
Add this page to your favourites Need help navigating this site? View a map of this sites contents
Home > News > Article
OFT launches marketing strategy for codes approval scheme

Nov 5 2003
The OFT unveiled its plans to promote the Consumer Codes Approval Scheme to UK business and consumers today. A website will be a key feature of a broad and sustained marketing strategy to establish the Approved Code logo as a key brand for consumers to look out for.

Four code sponsors have already achieved Stage One of the two-stage process for OFT approval of their consumer codes of practice, and are now working towards recognition by the OFT that their codes are being effectively implemented. A further fourteen code sponsors are currently working towards Stage One status.

Codes that successfully achieve the second stage will be able to carry the OFT Approved Code logo. The OFT will only approve for use of the logo codes that are shown to safeguard and promote consumers’ interests beyond the basic requirements of the law.

The OFT will be promoting the benefits of the Codes Approval Scheme through a series of regional seminars and a national launch to consumers in March next year.

John Vickers, OFT Chairman, said:
‘Rigorous codes of practice are a key plank of effective self-regulation.

Today’s event shows the OFT’s commitment to building the Approved Code logo into a widely recognised brand that helps consumers identify trustworthy businesses, and which helps good business attract and retain customers.’

The Enterprise Act requires the OFT to set criteria for approving consumer codes of practice and permits it to use an official symbol to signify which codes have OFT approval. A body that administers a voluntary consumer code and can influence and raise standards within its sector, such as a trade association, may apply for approval of its code. Such a body is known as a ‘code sponsor’.

The Consumer Codes Approval Scheme comprises two stages: Stage One – the OFT must be satisfied that code meets the OFT’s core criteria in principle. The code sponsor must make sure its code contains measures designed to remove or ease consumer concerns and undesirable trading practices in its sector. Stage Two – the code sponsor must prove its code lives up to the initial promise. The burden of proof lies with the sponsor. The sponsor must show that the code is being effectively implemented by its members and that consumer disputes are properly resolved.

The four code sponsors to have achieved Stage One status are: the Vehicle Builders and Repairers Association (VBRA); the Ombudsman for Estate Agents Company Ltd (OEA); the Direct Selling Association (DSA); and the Association of British Travel Agents (ABTA).

Print this article     
Post News
News Archive
News Search
Letter To Editor
News Headlines
Winding Up Petitions (Companies) Notices - 19 December 2014
Meeting of Creditors Liquidation Notices - Section 98 of the Insolvency Act 1986 - 19 December 2014
Appointment of Administrators Notices - 19 December 2014
Switched off by the Insolvency Service: connected companies that duped gas engineers
UK Export Finance appoints former banker to head up its international business development division
One-in-four British adults to take on debt to pay for Christmas – R3
FSB finds 62 per cent of small businesses expect to grow in the New Year
Meeting of Creditors Liquidation Notices - Section 98 of the Insolvency Act 1986 - 18 December 2014
Winding Up Petitions (Companies) Notices - 18 December 2014
Scottish Student Debt Soars, Trust Deed Scotland Reports
Follow Us On
Follow us on Twitter Check out our blog posts Go to our LinkedIn profile Subscribe to our RSS feed

Shopping Cart
Items: 0 Total: £0.00
View items in your shopping cart Checkout

Upcoming Events
Advanced Telephone Collection Skills
Getting started in Credit Control & Collections
Introduction to Credit Risk Assessment
Webinar - Telephone Collections
Level 4 Diploma Course in Credit Management
Search for more events…

Top Products
Tile Advert on Front Login Page and one Content Page
Equifax Full Status Report - UK

Special Offers
In Focus UK Credit Reports
As featured on News Now

Homepage | Feedback | About Us | FAQs | Sitemap | Terms & Conditions | Privacy Statement | Help Page | Advertising