‘No refund, no exchange illegal’ – CAC
The Consumer Affairs Commission (CAC) is warning consumers that they cannot receive a refund on products purchased just because they changed their mind.
Buyer's remorse, which occurs when you have bought a product or service and wished you had not, is not grounds for a refund.
According to the CAC, buyer's remorse sometimes occurs when a consumer has made a costly purchase and fears that he has made a wrong choice, spent too much money, thinks that he has been overly influenced by the vendor, or simply has a change of heart.
In instances like these, and as long as the consumer has left the vendor's store, the Consumer Protection Act Section 24, subsection 4, states that it is left to the discretion of the vendor or provider.
The Commission is, therefore, urging consumers to do their homework before making a purchase so that the chance of experiencing buyer's remorse is reduced.
"It is also important that consumers be vigilant and find out the store's policy before making a purchase," said the CAC.
"Signs which state 'no refund, no exchange' are in fact illegal as there are provisions under the Consumer Protection Act that allow for items to be returned and a refund obtained in the event that something goes wrong," added the CAC.
On the matter of hire-purchase arrangements, the CAC said it is important that consumers read and understand the terms and conditions of the contract before signing.
"Although the documents are often long with fine prints, consumers should take the time to read, ask the relevant questions, and get clarifications on the areas that are unclear."