Retailers and vendors axed the period of agreeing upon new prices to 30 days
16.11.2015 209 views
The respective agreement will be signed at the cross-sector expert meeting next week.
All necessary decisions on the issue were adopted on November 10 at the cross-sector expert meeting. The agenda also included the issue of two-week force majeure: “in case of dramatic changes in the key factors that affect consumer prices, [it is necessary] to envisage a possibility to reduce this period, i.e. to switch on the so-called red button.”
The final agreement will be concluded between ACORT (Retail Companies Association ) and Rusprodsoyuz (the association of producers and suppliers). Ilya Lomakin-Rumyantsev, ACORT Presidium co-chairman, told the media that the retailers had intended to sign the rules of "30 and 14 days of force-majeure" a few months before.
The question of what exactly should be considered force majeure was already discussed earlier. Retailers were going to incorporate into the rule-book a certain list of causes other than those of environmental origin (for example, changes in the gas prices by 20% within a short period, currency fluctuations, etc.), but the vendors refused.
The decision on what constitutes force majeure will be apparently taken on the forthcoming cross-sector expert meeting.
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