The spirit of this law is to establish the legal framework for protection of the rights of individuals and legal entities which are consumers or users of goods or services, seeking equality, certainty and legal security in the consumption relationships with suppliers or providers of public, private, mixed, individual or collective good and services.
REPEALS: Law No. 182, " Law of Defense of Consumers” and its Regulations; Article 114 of Decree No. 71-98, Regulations to Law No. 290, amended by Decree No. 25-2006; subsection "h" of Article 60 of Law No. 495, General Law of Tourism; subsection 9 of Article 71 of Regulations to Law No. 495.
One of the major novelties in this Law is that setting prices in a foreign currency on labels, menus or in any other way visible to the customers, is an illegal action and, consequently, the owner of the respective establishment may receive a penalty or a fine, or have his business closed, because the official currency of Nicaragua is the “córdoba”.
This is already provided in the Organizational Law of the Central Bank of Nicaragua, but the new Consumer Law now vests the power for enforcement of this provision in the National Directorate of Protection of the _Rights of Consumers and Users (Diprodec) of the Ministry of Industry, Promotion and Commerce (Mific).
The Chairman of the Economic Commission of the National Assembly explains that another novelty is that “this Law voids any clause of adhesion contained in contracts which is considered abusive. It is clearly established that such clauses would be for example, when you are required to waive application of the laws of your domicile to be pursued in another or clauses that establish a credit prepayment penalty”.
Likewise, among other provisions, the Law expressly forbids providers of goods and services to charge in a currency other than “córdoba”; ratifies the prohibition to include the tip in the calculation of the invoice; and increases to three years or 100,000 kilometersthe warranties in the purchase of new vehicles and to six months or 20,000 kilometers the warranties in the purchase of used vehicles.