New Guernsey Unfair Contract Terms Rules From October 2023

Introduction

The Trading Standards (Fair Trading) (Guernsey) Ordinance, 2023 (the "Trading Standards Ordinance") is due to come into force on 2 October 2023. From this date, businesses in Guernsey will be subject to trading standards requirements and consumers in Guernsey will have consumer rights in turn.

This briefing by Walkers Guernsey regulatory team summarises key areas of the Trading Standards Ordinance.

Who is affected?

The Trading Standards Ordinance applies to businesses selling goods and/or providing services in Guernsey, including financial services. Therefore banks, investment managers, pension providers, insurance providers and lenders are subject to the new consumer protection rules under the Trading Standards Ordinance (apart from certain exclusions referred to below).