On Friday, March 05, 2021, it was published in La Gaceta, Official Gazette No. 45, Regulation No. 31 of the Leniency Program applicable to Nicaragua's economic agents, issued by the National Institute for the Promotion of Competition of Nicaragua (PROCOMPETENCIA).
This regulation establishes the procedure to be followed by all economic agents to access the exemption benefit granted by Law No. 601, "Law for the Promotion of Competition." Through the Leniency Program, the participating member of a cartel will receive the benefit of being exempted from the payment of the corresponding fine for having carried out anticompetitive collusive practices with other competitors in the market.
However, the beneficiary cannot be the cartel's promoter and must provide the authority with background information proving the anticompetitive practice and those responsible for it.
The scope of application of the Regulation includes the following cases:
- Those commercial practices or conduct that create or give effect to contracts, agreements, and understandings containing a provision that promotes a cartel's formation and operation.
- Price fixing.
- Entry barriers.
- Allocation of customers, suppliers, or territories.
- Bid rigging and manipulation of public auctions.
- Predatory joint pricing.
- Others that could be considered collusions in light of Law No. 601.
Likewise, the Regulation establishes the requirements to obtain the Benefit of Leniency, the duties inherent to this request, and its procedure.