The Value Of Self-Regulation

The Better Business Bureau is celebrating one hundred years of service to the public this year, and as you can imagine, we’re very excited about this milestone. One of the hallmarks of the BBB is the advancement of self-regulation in the marketplace.

In this post, we will look at two areas of self-regulation: advertising and business/consumer relationships.

First, in advertising, the BBB has developed a code of advertising which outlines best practices in advertising. The key here is “transparency.” Transparency here is also full disclosure. “Exactly what I am getting for the money I give?” Advertisers need to take care to disclose all pertinent information about a product or service. Here is the premise for our guidelines:

The primary responsibility for truthful and non-deceptive advertising rests with the advertiser. Advertisers should be prepared to substantiate any claims or offers made before publication or broadcast and, upon request, present such substantiation promptly to the advertising medium or the Better Business Bureau.
Advertisements which are untrue, misleading, deceptive, fraudulent, falsely disparaging of competitors, or insincere offers to sell, shall not be used.
An advertisement as a whole may be misleading although every sentence separately considered is literally true. Misrepresentation may result not only from direct statements but by omitting or obscuring a material fact.

To examine the BBB Code Of Advertising visit, http://www.bbb.org/us/code-of-advertising/

Second, the BBB brand is Start With Trust, and the BBB promotes self-regulation in the marketplace to achieve trust between the public and businesses. One way the BBB does this is through the providing of business/charity reviews. Business reviews will provide consumers with as much information as there is in BBB files. Information may include: name, business start date, principles, address, phone/fax numbers, web addresses, type of business, and their product or service. For charities, information may include, charity name, address, phone number/fax numbers, web addresses, information regarding governance, charity appeals/fund-raising, and the purpose and programs of the charity.

The BBB is probably best known for its handling of disputes between consumers and businesses. This is provided at no cost to both consumers and businesses. If the BBB is unable to determine the outcome of the dispute, BBB offers mediation and/or arbitration services. Complaint information is reportable for a period of three years.

For more information on BBB services, visit www.evansville.bbb.org, and if you have issues with a “new” vehicle, visit www.evansville.bbb.org for information on lemon laws and to see if your vehicle is eligible for arbitration through the BBB Auto Line program.