Martin Lee @ Sg
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Lemon Products Protection

A proposed law will make it compulsory for retailers who have sold a defective product (otherwise called a lemon) to either repair or replace the item. For the law to be applied, the retailer has to be found guilty of having sold the faulty item in the first place.

Currently, consumers who have been sold a lemon have to take their own troubles to file their claims with the Small Claims Tribunal (SCT). Depending on how the retailers argue their case, the consumer might or might not win their case.

Under the new law, retailers are obliged to take responsibility and can’t blame other parties, e.g. their suppliers.

In the meantime, financial lemons continue to be sold (with free-look period) to the public….

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1 comment
The Watchman says 10 years ago

Aren’t whole life , endwoment and regular ILPs lemon products?
They are lemons because (1) they can’t give adequate protection yet being sold as INSURANCE to the unwary consumers.
(2) the return from these products is ROTTEN . So ,how can they be used as saving plans.
isn’t the public being fooled. The defects are NOT disclosed.

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