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Former Iceland needs some company

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Former Iceland Needs Some Company

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Direct marketing is practiced in Iceland but not to the same extent as in the United States. Methods include delivering leaflets to homes, television infomercials and telemarketing.

The best source of contact information for telemarketers is the Icelandic phonebook. Entries are listed by first name. It sets out a of obligations for companies doing business at a distance with consumers.

Direct marketers must provide clear information on their identity as well as that of their supplier, full details on prices including delivery costs, and the period for which an offer remains valid before a contract is concluded. According to Icelandic law, generally, consumers do not have legal right to return goods, unless the goods are faulty. However, the Ministry of Commerce now Ministry of Finance and Economic Affairsissued in non-binding instructions on consumer rights which state that consumers should have 14 days to return non-faulty goods.

If goods are purchased online, the consumer has legal rights to return the items within 14 days of purchase regardless if the product is faulty or not. Goods need to be in original condition and packaging. This legislation is deed to ensure that consumers are appropriately protected in respect to financial transactions taking place where the consumer and the provider are not face-to-face.

In addition to prohibiting certain abusive marketing practices, the directive establishes criteria for presenting contract information. Given the special nature of financial markets, specifics are also laid out for withdrawal off a contract.

Key Link. Discusses the state of direct marketing and what channels are available for companies to use direct marketing.

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