Layaway Policy

The Jewelry Spot LLC Layaway Policy

1. Definition of Layaway Sales:
Layaway sales at The Jewelry Spot LLC involve the purchase of goods through periodic payments, with the delivery of the goods deferred until the full purchase price has been paid. This policy complies with layaway laws across all U.S. states, including specific provisions for Rhode Island and Massachusetts.

2. General Duties of The Jewelry Spot LLC for All States:
In compliance with state laws, The Jewelry Spot LLC will:

  • a. Fully disclose our layaway terms and conditions at the time of sale, including payment schedules, cancellation rights, and any applicable fees, as required by law in each state.
  • b. Clearly indicate whether the specific goods chosen by the customer, or an exact duplicate, are being reserved under the layaway plan.
  • c. Disclose any limitations on how long the specific goods, or their exact duplicates, will be set aside.
  • d. Deliver the exact goods specified or exact substitutes upon completion of payments, unless prior written consent is obtained from the customer for any changes.
  • e. Not increase the price of the goods specified by increasing the payments or substituting goods of lesser quality or value.
  • f. Provide a receipt for each payment showing the amount and date, and, upon customer request, provide a statement of the total payments made to date.
  • g. Comply with all state-specific regulations regarding record-keeping and customer rights.

3. Customer Right to Cancel:
The right to cancel a layaway sale is granted to customers across all states under the following general terms:

4. General Cancellation Policy for All States:

  • Customers may cancel a layaway sale by providing written notice to The Jewelry Spot LLC. Cancellation fees and terms will comply with state-specific regulations.
  • The Jewelry Spot LLC will provide a full or partial refund based on the state laws governing the layaway sale and any cancellation fees allowed.

5. State-Specific Cancellation Rules:

  • Rhode Island: Customers may cancel a layaway sale within ten (10) days of signing the agreement, excluding Sundays and holidays with no regular mail service. After this period, The Jewelry Spot LLC may retain up to ten percent (10%) of the total payments made.
  • Massachusetts: Any cancellation fees will comply with state law. Customers will be informed of applicable cancellation fees or penalties at the time of purchase.

6. Special Order Merchandise:
The right to cancel does not apply to special order merchandise, such as custom-made items or items substantially different from those ordinarily offered for sale by The Jewelry Spot LLC.

For custom orders on layaway: The custom jewelry piece will not be produced until 50% of the item is paid off. Customers must ensure that at least half of the total price is paid before production begins.

7. Notice Required on Layaway Agreement:
The layaway sale agreement provided to the customer will:

  • a. Include a clear notice of the customer's rights and The Jewelry Spot LLC's policies, as outlined in this policy, including any state-specific provisions.

8. Obligations of The Jewelry Spot LLC Upon Cancellation:
Upon cancellation of a layaway sale:

  • a. The Jewelry Spot LLC will process refunds in accordance with state laws, ensuring compliance with the specific requirements of each state regarding the timing and method of refunds.
  • b. Rhode Island: Refunds will be provided within thirty (30) days after receiving the cancellation notice.
  • c. Massachusetts: Refunds will be processed according to state-specific rules on the timing and method of refunds.

9. Compliance with State-Specific Requirements:
To ensure full compliance with all applicable state laws, The Jewelry Spot LLC will adhere to any additional requirements that may apply in each state, such as specific disclosures, cancellation terms, or customer notification obligations. Customers will be provided with the relevant information based on their state of residence at the time of sale.

10. Penalty for Non-Compliance:
Violation of any provision of this policy may result in legal consequences under the laws of the state where the layaway sale occurred.

11. Additional Provisions for Other States:

  • California: For layaway sales in California, The Jewelry Spot LLC will adhere to specific regulations regarding disclosures, cancellation rights, and record-keeping as outlined by California law.
  • New York: For layaway sales in New York, The Jewelry Spot LLC will comply with local consumer protection laws, including providing clear written agreements and refund policies.
  • Texas: For layaway sales in Texas, The Jewelry Spot LLC will ensure compliance with state-specific requirements, including any limitations on fees and customer rights to cancel.

12. Application of General Policies to Layaway Sales:
All of The Jewelry Spot LLC’s regular policies and custom order policies also apply to layaway items. For more information, please refer to our complete policies page here.