Kenya Competition Act (Cap. 504)
Part III Sections A to C: restrictive trade practices, abuse of dominance and abuse of buyer power – Kenya Competition Act (Cap. 504)

Kenya Competition Act (Cap. 504) 24A-7: Buyer-supplier agreements must state payment terms, dates, late-payment interest, termination and dispute mechanisms

What does 24A-7 require?

The Authority is guided by the agreement between buyer and supplier, written or not, when investigating buyer power complaints (section 24A(6)), and such an agreement must set out the payment terms and payment date, the interest charged when payment is late, how and on what reasonable notice the contract may be terminated or varied, and how disputes are resolved (section 24A(7)). Buyers in retail, manufacturing, agriculture and other supply chains should bring their supplier contracts up to this standard and keep them current.

Maintained by Gerard Blokdyk

Other controls in Part III Sections A to C: restrictive trade practices, abuse of dominance and abuse of buyer power – Kenya Competition Act (Cap. 504)

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