Refunds and Exchanges

April 08, 2014

For your assistance the BBB advises that, contrary to popular belief, there is NO law in B.C. regarding cash refunds. If you purchase an item and you've changed your mind, the firm is NOT obliged to exchange, refund or give you a credit note, although it MAY be its policy to do so.

ONLY in instances where an item is DEFECTIVE does legislation require that the seller take some action to solve the matter. This might include replacement, repair, or refund. It is up to the consumer to ask what the policy is before purchasing and to get it IN WRITING.

A condition of return could be a deduction from the original purchase price. This is often called a restocking fee. It is a compensation charge for the profit the seller lost on the return of goods.

A reasonable restocking charge is generally considered to be 15 to 25% of the purchase price, depending on the circumstances.

Problems are reduced for both yourself and the business by not making assumptions.

For further information on this subject, contact DIAL-A-LAW at (604) 687-4680.