Fair-pricing Agreements in Retailing (FAIR) is an initiative launched by the National Euro Changeover Committee that regulates the display of prices of goods and services, in both the Maltese lira and the euro, during the voluntary period targeted for early next year. In the run-up to the introduction of the euro, FAIR seeks to guarantee fairness and transparency, thereby promoting consumer confidence during the changeover process. Through this initiative, consumer rights will be safeguarded and upheld.

As the acronym suggests, FAIR’s main objective is to ensure that both consumers and retailers gain through the change towards the new currency. Through FAIR, consumers’ rights will be promoted and consumer confidence will be boosted. Consumer confidence is fundamental for the success of all businesses, and FAIR attempts to generate a collaborative relationship between consumers and retailers. This relationship will be based on a balanced rapport between successful businesses and satisfied consumers.

Businesses that intend to display both currencies as of early next year on a voluntary basis are required to subscribe to the FAIR initiative. Through their subscription, organisations will be committing themselves to fair pricing strategies during the euro changeover process. FAIR businesses undertake not to increase prices as a result of the currency changeover. Simultaneously subscription through this initiative indicates that businesses are gearing up for the euro changeover well beforehand through the needed technical preparations, thereby assuming a proactive attitude.

The euro campaign mark, which forms an integral part of the FAIR initiative, will be awarded to all subscribers as an indication that the outlet is adhering to best practices established for the euro changeover period.

The NECC will provide nationwide publicity to all FAIR businesses and consumers will be encouraged to look out for the euro campaign mark when shopping. The publicity campaign will serve as a sign of acknowledgment and appreciation to all establishments that are voluntarily making early euro preparations and are keen on promoting consumers’ interests well before the mandatory dual display period.

Businesses subscribing to the FAIR initiative will be provided with free staff training, the option of having a direct link to the euro website and the opportunity of using the euro campaign mark in their adverts and promotional material. Each participating organisation will be given a business starter kit consisting of a training DVD, a dual display calculator, a dual display price gun, conversion charts and information material.

The FAIR initiative will help consumers adapt to the euro and will provide assurance that the correct and official conversion rate is being used. As a result, consumers will increase their confidence in the practices being adopted by retailers during the changeover process and will not fear abuses. Without doubt, the FAIR initiative is mutually beneficial to retailers and consumers and provides a win-win formula to all.

You may download the application form from www.euro.gov.mt or call linja ewro 154.