Procedure for promotions at SUNDDE
Administrative Ruling No. 004/2014 (the “Ruling”) was published in Official Gazette No. 40,397 of April 23, 2014. Through said Ruling, the National Superintendence for the Defense of Socioeconomic Rights (Superintendencia Nacional para la Defensa de los Derechos Socio Económicos - “SUNDDE”) establishes the necessary requirements, controls, and formalities for authorizing the promotions and offers of goods, products, and services, including any method used and associated with such promotions and offers, made by the individuals/entities subject to the application of the Decree with the Status, Value, and Force of Law of Fair Prices (the “Law”).
The national or foreign, natural and legal persons, of public or private law, that develop economic activities in the territory of the Republic, as well as those acting as their intermediaries for the exclusive making of the advertising or offer, are subject to the application of the procedure established in the Ruling.
The following are some of the most important aspects of the Ruling:
• The documents required must be filed with the Management of Protection of Socioeconomic Rights (Intendencia de Protección de los Derechos Socio Económicos) (the “Management”).
• The request for authorization of promotions must indicate the name of the promotion, the good to be promoted with a detailed description of the activity to be performed, the quantity of goods, products or services offered, the date of beginning and end, the bases, conditions and restrictions applicable to the promotion and offer, and must be signed by the responsible person and duly stamped.
• The requests for authorization of promotion of goods and services must be filed within a period no shorter than ten (10) days before the date of beginning of the promotion.
• The promotions may in no case exceed a period of three (3) calendar months after the date of effectiveness of the promotion indicated in the request for authorization.
• The Management will issue an answer to the request for authorization of promotion approving or rejecting the same in a maximum period of five (5) business days as from the date of receipt of the request, which answer must be withdrawn by the interested party at the office of the institution.
• In the cases of raffles and/or competitions, the responsible company must subsequently notify the Management of the winners, within five (5) business days following the date when the raffle or competition took place.
• Any situation altering the promotion, including a suspension due to force majeure, exhaustion of goods, among others, must be immediately notified to the Management.
• If the individual/entity subject to the application of the Ruling fails to comply with the content of the announcement, the persons may decide: (i) to demand the performance of the obligation in the terms offered, or (ii) terminate the agreement if advanced payment was made by the persons or (iii) demand the reimbursement of one hundred (100%) of the amount paid, in the event of any justified lack of conformity with the service provided or the good or product acquired.
The Ruling became effective upon its publication in the Official Gazette.
In order to have access to the Ruling, please click here.
“NOTE: THIS INFORMATION SHOULD NOT BE CONSTRUED AS LEGAL ADVICE ON ANY SPECIFIC MATTER AND ITS CONTENT ARE INTENDED AS A MANAGEMENT ALERT AS TO CURRENT DEVELOPMENTS IN VENEZUELA, ANY SPECIFIC LEGAL QUESTIONS REGARDING THE POSSIBLE APPLICATION OF NEW OR PROPOSED LEGISLATION TO PARTICULAR SITUATIONS SHOULD BE ADDRESSED TO TRAVIESO EVANS ARRIA RENGEL & PAZ.”