Amendment to Guidelines on Fair Trade Practices related to Credit Terms for SMEs

The Trade Competition Commission issued a New Notification concerning Guidelines for Consideration of Fair Trade Practices related to Credit Terms in the case of Small and Medium-sized Enterprises ("SMEs") being Sellers of Goods or Services (No. 2) ("New Notification") that took effect on 16 September 2022.  The New Notification requires that SMEs must now meet the employment and income criteria (under the previous notification, it was either employment or income criterion). An SME must also provide evidence of employment and income to prove its SME status.