The Competition Tribunal resolved favorably an inquiry by Equifax, regarding its “Exchange” service. In order to minimize the competitive risks that were identified during the proceeding, the following measures were established as conditions for implementing the service:
- Equifax cannot establish any kind of exclusivity clauses or incentives with the clients of the “Exchange” service.
- “Exchange”’s price and commercial conditions will be subject to economic conditions and terms that must be objective, general and not arbitrarily discriminatory.
- Contracts between Equifax and each one of the credit providers must be negotiated on a bilateral basis.
- The “Exchange” service will only be allowed to deliver aggregate information of each natural person’s debt stock. Equifax will take the necessary measures to prevent identification of individual credit providers or credit conditions. “Exchange” will not be able to operate with less than three associated credit providers of similar characteristics.
- Equifax will provide the National Economic Prosecutor’s Office with a copy of the general terms of the contracts to be established with credit providers. This must be done at least 30 days before starting the service, or before any substantial modification of the aforementioned terms.