OFT

OFT

1) Office of Fair Trading. Official body concerned with protecting consumers and promoting their interests and with encouraging fair competition. In particular it deals with such issues as misleading advertisements and problem traders and keeps a watch on the consumer credit sector and licences those businesses that offer credit or money-lending services to consumers.

It encourages competition, but strives to ensure this is fair by removing or limiting restrictions and by preventing or modifying anticompetitive agreements, rules or behaviour.

Source: David Lowe. The Dictionary of Transport and Logistics. Kogan Page, 2002. – P.172 (288 p.)