Superintendencia de Industria y Comercio

The decision was taken after evaluating the response and documents submitted by the company, which allowed to determine, the alleged breach of five of the requirements established by the SIC:

i) Alleged breach of the order related to indicate to consumers the source of the right of withdrawal and reversion of payment; ii) alleged non-compliance with the order to adjust the clauses of the terms and conditions; iii) alleged breach of the order to report on its electronic commerce platforms, the total price of the products; iv) alleged breach of the order to establish clearly, in the cooperation agreements concluded with their commercial allies, the responsibility of each of the subscribers of the agreement regarding the effectiveness of the guarantee; v) Finally, the presumed partial breach of the order related to provide its customers with requests, complaints and claims (PQR) mechanisms in the e-commerce platforms.

In the event that the SIC determines the breach of the aforementioned requirements, it may impose, successive fines of up to one thousand current legal minimum wages, equivalent to $ 828,116,000 Colombian pesos (approx., USD$ 241,843).