Following the public hearing in March 2022, the Trade Competition Commission of Thailand (TCCT) published an amendment to the guideline on fair trade practices relating to credit terms with small and medium enterprises (SMEs) under section 57 (unfair trade practices) of the Competition Act 2017.
This is the first amendment after the guideline became effective in December 2021 (see our previous newsletters in August 2021 and March 2022).
The key amendment is on the definition of SMEs. Business operators will have to satisfy both the employee number and annual revenue thresholds to be considered SMEs within the scope of this guideline, whereas the 2021 guideline merely requires business operators to satisfy either threshold.
Under the amendment, SMEs are those business operators that meet the following criteria:
- For manufacturers, having…
