moved for leave to introduce Bill C-427, an act respecting the adjustment of credit card charges in cases where goods or services are not supplied or are defective.
Mr. Speaker, in the United States it is law that when a credit card company signs on a new merchant it is deemed to be a contract with the merchant that shares in the profits of the corporation. The credit card company takes a commission for every sale the company makes. That means that in the United States under the law if the company providing the service fails to deliver, the credit card company has a responsibility to help get the money back for the credit card customer. That law does not exist in Canada.
If implemented, my private member's bill would create an even playing field in Canada by making our law compatible with that of the United States. If companies failed to deliver on goods and services that had been charged to a credit card, the credit card company would have some responsibility in regaining redress and a refund.
(Motions deemed adopted, bill read the first time and printed)