Note: This message is displayed if (1) your browser is not standards-compliant or (2) you have you disabled CSS. Read our Policies for more information.
It does not include a sale made pursuant to a preexisting revolving charge account, or a sale made pursuant to prior negotiations between the parties at a business establishment at a fixed location where goods or services are offered or exhibited for sale.
The seller or agent must state, in immediate proximity to the space reserved in the contract for the signature of the buyer, in bold face type at least 10 point type; a statement in substantially the following form:
"You, the buyer may cancel the transaction at any time prior to midnight of the third business day after the date of the transaction. See the attached notice of cancellation form for the explanation of this right."
The seller or agent must inform each buyer orally, at the time he signs the contract or purchases the goods or services, of his right to cancel.
The notice of cancellation must contain the following:
|Date of transaction |
You may cancel this transaction, without any penalty or obligation within three business days from the transaction date.
To cancel this transaction, mail or deliver a signed and dated copy of this cancellation notice or any other written notice, or send a telegram, to [name of seller] at [address of seller's place of business] not later than midnight of [date] .
I hereby cancel this transaction [date] [buyer's signature] .
Any property traded in, any payments made by you under the contract or sale, and any negotiable instrument executed by you will be returned within 10 business days following receipt by the seller of your cancellation notice.
Any security interest arising out of the transaction will be canceled.
If you cancel, you must make available to the seller at your residence, in substantially as good condition as when received, any goods delivered to you under the contract or sale; or you may, if you wish, comply with the instructions of the seller regarding the return shipment of the goods at the seller's expense and risk.
If you make the goods available to the seller and the seller does not pick them up within 20 days of the date of your notice of cancellation, you may return or dispose of the goods without any further obligation.
If you fail to make the goods available to the seller, or if you agree to return the goods to the seller and fail to do so, then you remain liable for the performance of all obligations under the contract.
The Seller or Agent Must:
Have mail and phone order purchases shipped when promised, or to cancel for a full and prompt refund. If no shipping date is stated, your right to cancel begins 30 days after your order and payment are received by the merchant.