Law on Competition Promotion and Effective Consumer Protection N° 7472

The Law on Competition Promotion and Effective Consumer Protection (N° 7472) is a comprehensive regulatory framework that seeks to effectively protect consumer rights, promote free competition and prevent monopolistic practices in Costa Rica. It establishes the Commission to Promote Competition and the National Consumer Commission as bodies to ensure compliance with the law. It regulates economic deregulation, commercial practices, maximum annual interest rate and contemplates precautionary measures and sanctions for infractions that affect the market or consumers.