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DTI to impose ban on installment-only purchase schemes in Bohol

DTI to impose ban on installment-only purchase schemes in Bohol

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DTI to impose ban on installment-only purchase schemes in Bohol

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The Department of Trade and Industry (DTI) in Bohol will start to implement an administrative order which bans the sale of consumer goods and other products through installment-only purchase schemes.

DTI Bohol consumer protection group head Joe Hibaya on Thursday said that consumers should be given the options to pay the full amount in cash, by installment, or through a combination of both methods.

According to Hibaya, Department Administrative Order no. 13 of 2021 was issued after some businesses were noted to have been implementing installment-only payment schemes for some of their products, which could be disadvantageous to those who are willing to pay in full upfront.

“Kaning probisyona ning gawas ni tungod kay dunay nakit-an ang atong buhatan sa DTI na naay ubang mga negosyante na bisan og adunay kapasidad ang usa ka customer og cash pero ilang ipaagi sa customer na e-install nalang ni, which is gi deprive na nimo ang right sa usa ka consumer,” Hibaya said.

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The scheme was observed to have been applied with purchases of products such as appliances and motorcycles.

In February, the issue reached the Senate with Senator Richard Gordon during a Blue Ribbon Committee hearing airing concern that some motorcycle dealers have been imposing exorbitant interest rates.

This prompted DTI Sec. Ramon Lopez to respond during the hearing that the department was already drafting the order to address the issue.

According to Hibaya, the DTI in Bohol will be conducting webinar sessions to explain to local businesses the new department order.

“Bag-o mani siya na regulation mao among ipdangat ni ninjo through a meeting siguro diri sa probinsya sa Bohol para masabtan pud sa atong mga negosyante,” he said. (AD)

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