2017 GNYADA Membership Directory

HOT TOPICS

FAILURE TO POST REFUND SIGN RESULTS IN FINES

NewYork State and NewYork City require retail establishments, including dealers, to conspicuously display refund policies. Dealers have several options regarding where to disclose the required information. Failure to properly display your refund policy may result in having to provide customers a full refund (cash or credit/customer’s option) if they request such refund within 30 days of the purchase.

Options for posting your Refund Policy: • on a sign attached to the item itself • on a sign attached to the cash register or point of sale • on a sign clearly visible to the buyer from the cash register; or • on a sign posted at each store entrance used by the public.

Your refund sign must disclose whether it is your policy to provide refunds and if so, under what circumstances a refund will be given, including whether a refund will be provided: • on sale or as-is items • if the customer no longer has proof of purchase documentation • within a specific time period • as cash, credit or store credit; or • whether restocking fees will be imposed (if so, the dollar amount or percentage amount of such fee) Refund policy signs must also include a statement advising customers that they are entitled to a written copy of the dealership’s refund policy upon request. Some villages and towns may impose additional disclosure requirements, but only if they afford customers’ greater protections than state law. Dealers should include

refund policy signs on their list of required compliance postings in each dealership.

MEMBERSHIP

DIRECTORY

2017

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