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FAILURE TO POST REFUND SIGN RESULTS IN FINES

NewYork State and NewYork City require retail establishments, including dealers, to conspicuously display refund policies. Even if it is the dealership’s policy not to offer refunds, you must have a sign! Failure to properly display the refund policy may result in having to provide customers a full refund (cash or credit, as the customer chooses) if requested within 30 days of the purchase. Dealers have several options for Refund Policy sign locations: • attached to the item itself; • attached to the cash register or point of sale; Your refund sign must disclose whether it is your policy to provide refunds and if so, under what circumstances 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. • clearly visible to the buyer from the cash register; or • posted at each store entrance used by the public.

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41 2020 MEMBERSHIP DIRECTORY & SERVICES GUIDE