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The European Commission invites companies to participate in the consultation about European Contract Law.
The European Business Test Panel (EBTP) is currently being consulted on how a European Contract Law can boost their cross-border activities within the Single Market. Any individual company can join the EBTP and submit its reply, which should not take longer than 15 minutes.
The Internal Market offers great opportunities for cross-border trade, which has been demonstrated to contribute to higher turnover growth, higher employment growth and more innovative products and services.
Nevertheless, the co-existence of different rules can lead to additional transaction costs and missed opportunities from economies of scale for businesses and lack of consumer confidence. For example, 60% of companies see these additional compliance costs as a major obstacle to make transactions with consumers based in other Member States. Currently, 75% of European enterprises do not trade across borders, whereas almost 50% indicate that they would start doing so if consumer protection rules were the same.
The EBTP survey will help the European Commission identify the need for and impact of European rules of contract law, which could in turn help businesses to better profit from the European Internal Market.
Companies can join the EBTP by registering online: http://ec.europa.eu/yourvoice/ipm/forms/dispatch?form=250&lang=en.
More information about the EBTP is available at: http://ec.europa.eu/yourvoice/ebtp.
As member of the EBTP, companies receive up to eight questionnaires a year. Each reply increases the evidence base for European legislation and policies, resulting in legislation that more adequately fits companies in the EU. Participation is always voluntary.