New provisions in the Competition Act will affect buyers and suppliers
Businesses must re-examine their procurement policies carefully and also their trading terms and conditions
Recently enacted buyer-power and price-discrimination provisions of the Competition Act and regulations governing these provisions will have a significant effect on South African businesses on the buyer and supplier sides.
Compliance, particularly for large businesses, is more complex and complicated than it was before. Considering the substantial financial penalties and reputational consequences that follow contravention of the Competition Act, noncompliance is not something any business should consider...
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