The Superintendency of Industry and Commerce (“SIC”) issued Resolution 1692 of 2021, modifying the Unified Circular ("Circular"), in relation to the rules applicable to the guarantee of products in Colombia.

First, and regarding the scope of the guarantee for electrical and gas appliances, the Circular does have any changes. Therefore, the guarantee of these products continues to be a responsibility of manufacturers, importers, or distributors and includes technical assistance, repair, the supply of spare parts and pieces.

Secondly, and regarding the advertising of products, the Circular determines that information contained in the advertisement must be true, verifiable, sufficient, clear, truthful, timely, understandable, accurate, and, both producers and suppliers, will be responsible for the damage that may cause because of inadequate or insufficient information. Likewise, it expands the concept of "commercial advertisement" to "advertising", in order to apply these same criteria. It also keeps the rules applicable to commercial advertisements but expanded the concept of "commercial advertisement" to "promotions and offers".

Lastly, the Circular establishes that any producer or supplier that offers the acquisition of goods or the provision of services through financing systems and celebrates more than 100 contracts of this type each month or that its sales through financing in the year exceeds the 1500 legal monthly minimum wages in force, must report to the Superintendency of Industry and Commerce any of these conditions in January of each year.