Competition in a market may be limited to other than those described above. For example, there may be other types of agreements between competitors, such as price guidelines or recommendations, joint purchase or sale, setting technical or technical design standards, and the trade information exchange agreement. The CCCS will take action in the event of significant adverse effects on competition, i.e. when competition is severely hampered. In the case of price guidelines or recommendations, CCCS stated that mandatory or voluntary price recommendations and pricing rules are generally dangerous to competition and encourage all firms to set their prices independently. Anti-competitive agreements are agreements between competitors designed to prevent, restrict or distort competition. Section 34 of the Competition Act prohibits anti-competitive agreements, decisions and practices. Do you understand that it is illegal for companies to enter into horizontal agreements between competitors and vertical agreements throughout the supply chain that limit competition in the market? A particularly serious type of anti-competitive agreement would be cartels. Agreements on cartels and abuse of dominance generally consist of setting prices, manipulating tendering procedures, dividing markets or limiting production. As a result, cartels have little or no incentive to lower prices or offer better quality goods or services. According to economic studies, cartels overload an average of 30%. There are four main types of agreements: our monthly newsletter offers best practices, new trends in the areas of regulatory compliance training, digital learning, edTech – RegTech It covers key points of competition law in an easy-to-digest format and interactive learning activities.
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