Notice of 60-Day Extension in Coment Period on Its Rule Governing Informal Dispute Settlement Mechanisms (``Rule 703'')

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The Federal Trade Commission (``the Commission'' or ``FTC'') has extended the date by which comments must be submitted concerning the review of its Rule governing Informal Dispute Settlement Mechanisms, 16 CFR part 703 (``Rule 703''). This notice informs prospective participants of the change and sets a new date of August 1, 1997, for the end of the comment period. On April 2, 1997, the Commission published a request for comments on its review of Rule 703, which specifies the minimum standards which must be met by any informal dispute settlement mechanism that is incorporated into the written warranty of a consumer product and which the consumer must use prior to pursuing any legal remedies in court. By letters dated May 23, 1997, the American Automobile Manufacturers Association (``AAMA'') and the National Association of Attorneys General (``NAAG'') both requested an extension of time in order to compile cost and other data relating to the Rule's impact. In order to provide sufficient time for these and other interested parties to compile factual material in response to the request for comments, the Commission has extended until August 1, 1997, the date by which comments must be r