Governor signs price gouging bill into law

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Governor Lou Leon Guerrero signed into law Bill 208-35, relative to preventing price gouging during a state of emergency.

Guam P.L. 35-74 would freeze markups on the prices of goods or services deemed to be in short supply, or in danger of becoming short in supply as a result of a catastrophic event that prompts an emergency declaration.

The executive order will place a freeze on price markups a day before a disaster and for no more than 30 days. Merchants will be able to cover higher costs incurred from air freight on the sale prices of imported goods that would normally be imported via ocean freight.

Merchants who violate that law may owe up to three times the gross profits on overcharged goods. They can also be liable for five times the amount of inflated services and rentals.

The Office of the Attorney General (OAG) recommends consumers use email when communicating their price gouging concerns and other matters related to the OAG office due to the current operation status. Info for price gouging should be directed to Consumer Protection Division. Email consumerprotection@oagguam.org.

(Information from a news release)