Q: What is the Price Tag Law under R.A. 7394?

A: The Price Tag Law, as embodied in R.A. 7394, requires that all consumer products sold in retail to the public shall bear an appropriate price tag, label or marking indicating the price of the article. Such consumer products shall not be sold at a price higher than that stated therein.

Q: Why is there a need for Price Tag?
          
A: The price tag is need for the following reasons:
- To provide buyers with adequate information and guide to enable them to compare quality and prices of goods and patronize stores selling quality products at low prices.
- Its presence will discourage and minimize haggling which is a waste of time, money and energy of both buyer and seller.
- It also expedites transactions and enables both the buyer and the seller to use the time and energy for more productive endeavors

Q: What is a Price Tag?

A: A price tag is a device attached to a commodity stating the price at which it is offered for sale.

Q: What are the characteristics of a Price Tag?

A: A price tag should:
-be clearly written;
-state the price of the commodity per unit (piece, kilogram, meter, liter, etc.) in Philippine currency, except when a law or regulation allows consumer products to be sold in foreign currency such as in the case of duty free shops;
-bear no erasures or alterations of any sort.

Q: When are erasures or alterations in price tag allowed?

A: Erasures or alterations are allowed only in price reduction sales promotion compaigns.

Q: Are articles offered for sale at wholesale covered by the law?

A: No, only goods at retail are covered by the law.

Q: Is the use of codes in price tag allowed?

A: Generally, prices of consumer products and services shall not be written in code. However, if it is used in addition to price tags, labels, markings or price lists, it is then allowed.

Q: When is a price list allowed?
          
A: The price list is allowed when:
- a consumer product is too small or the nature of which makes it impractical to place a price tag thereon;
- in case of consumer services.

Q: Is the price tag required on samples or dummies on display?

A: Yes, samples or dummies of products offered for sale on retail when displayed within the retail outlets shall also bear the prices of products which they represent.

Q: Is price tag required for lumber?

A: Yes, in the case of lumber sold, displayed or offered for sale to the public, the same shall be tagged or labeled indicating thereon the price and the corresponding official name of the wood.

Q: What is the penalty for violation of this provision?

A: The penalty for this violation are:
A violation for the first time shall subject the person to a fine of not less than Two Hundred Pesos (P200.00) but not more than Five Thousand Pesos (P5,000.00) or by imprisonment of not less than one (1) month but not more than six (6) months or both, at the discretion of the court;
A violation for the second time shall also carry with it the penalty of revocation of business permit and license.
Source: Department of trade and Industry

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