NY Refund Policy Law To Take Effect

Retailers with stores in New York should take note that effective November 25, 2009, an amendment to the state's existing refund policy law takes effect. Set forth at New York General Business Law § 218-a, the law requires retailers to disclose the store's refund policy in one of four defined locations and to make a written policy available to consumers who request it. The refund policy must state state whether or not it is the retailer's policy to give refunds and, if so, under what conditions, including but not limited to whether a refund will be given, including (i) on merchandise which had been advertised as "sale" merchandise or marked "as is;"(ii) on merchandise for which no proof of purchase exists; (iii) at any time or not beyond a point in time specified; (iv) in cash, or as credit or store credit only; or (v) subject to any fees, including a restocking fee, and the dollar or percentage amount of each fee; and (b) advise consumers that they are entitled to a written copy of the store's refund policy upon request.

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