Consumer Law and Policy Relating to Change of Circumstances Due to the COVID-19 Pandemic
COVID-19- Consumer Law Research Group, 'Consumer Law and Policy Relating to Change of Circumstances Due to the COVID-19 Pandemic' (2020) 43(3) Journal of Consumer Policy 437.
21 Pages Posted: 27 Aug 2020
Date Written: August 19, 2020
An unprecedented number of consumer problems has been caused by the COVID-19 pandemic, not least with regard to refunds of prepayments and the ability of consumers to keep up their monthly payments under loan and rental agreements. Based on a notion of societal force majeure sketched in this paper, we propose guiding principles in respect of the introduction of moratoria on recurring payments, the use of refunds or vouchers in respect of prepayments, and associated enforcement challenges. This analysis draws on experiences around the globe.
Keywords: Consumer law, COVID-19, moratoria, refunds, guiding principle
JEL Classification: K10
Suggested Citation: Suggested Citation