What is Competition in Contract ACT?

The Competition in Contract Act, often referred to in the context of competition law, seeks to promote fair competition and prevent anti-competitive practices in contractual agreements. It aims to ensure that businesses operate in a manner that fosters free market conditions, discouraging practices such as collusion, monopolistic behavior, and unfair trade practices. By regulating how contracts are formed and executed, the Act protects consumers and businesses alike, ensuring a level playing field in the marketplace.