A new bill intended to protect consumers was voted into law on Wednesday, passing its second and third readings in the Finance Committee. The law permits a consumer to unilaterally declare s/he wishes to cancel a contract, and the seller must act within 14 days of notification. The bill was pushed by Deputy Minister of Industry & Trade Orit Noked. The new law goes into effect on March 15, 2010. A buyer will have to pay a NIS 100 fee to cancel a deal.
A judge will also have the authority to cancel a deal “within a reasonable time period” up to one year in certain defined cases, including difficult fiscal realities of a buyer.
The law covers canceling agreements signed with ISP providers, cable TV and other services, and agreements with communications companies, permitting a customer a 14-day recantation period.
(Yechiel Spira – YWN Israel)
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