Layaway Contract Agreement
This article covers the content, the terms and condition of the layaway payment plan managed by Planet Deluxe.
The contract agreement binds two parties:
The Customer with the information to be provided and The Seller: Planet Deluxe the luxury consignment store with its operation based in Montreal, QC, Canada.
On the product which the Customer has chosen to purchase by using the Layaway Payment Plan.
Payment plan structure
The layaway is a type of installment payment plan which consists of an initial payment or called a down payment that the Customer complete the payment at check out and the balance split into a number installments with an equal amount which the Customer agrees to pay on the assigned due date.
Interest-Free layaway payment plan structure
- Initial or Down payment: 30% of product price
- Number of installment: 4 monthly payments.
Other cost components including but not limited to shipping, tax, duties are not applicable to the payment plan and will be included in full amount at the initial payment.
Other payment plan constructions are available but interest and other fees may apply.
The Interest-Free Layaway payment plan structure is constantly under review and subject to change without prior notification.
Layaway payment plan effective date
When the Customer select Layaway as the payment option and complete the order at check out, it generates a draft order in the system and activates the payment plan.
The next invoice for the recurring installment payment will be emailed to the Customer around 30 days (calendar) apart from the down payment date.
Rights and Obligations
Once the plan being effective, the product(s) will be stored away from inquires, and marked 'SOLD-OUT' on the website.
Planet Deluxe will keep the the product(s) condition to that displayed on the website listing where and when the Customer made their purchase decision.
The Customer agrees to the calculated amounts and the assigned payment dates, and the obligation to fulfill the contract by paying the invoice amount on the due date.
Before the full amount payment completion, the ownership of the product(s) remains with Planet Deluxe.
Fail to make a payment on time, or missing a payment, the Customer may suffer penalty. Please consult the table in the following section.
Current Shipping, Returns and Refunds policies apply to purchases made with the Layaway payment plan.
Late Payment, Missing Payment and 7-Days Payment Grace Period
Installment payment recurs around every 30 calendar days. An invoice will be sent to the Customer by email on the payment due date.
The Customer has 7 calendar days counting from the payment due date to settle the invoice.
Payment made after the 7 calendar days deadline considers as late payment.
At the second occurrence, such late payment action will be treated as contract breaching by the Customer, and prompt to an immediate order cancellation.
Missing payment refers to no payment is made to the invoice amount 21 days after the payment due date. It will consider as contract breaching and an order cancellation by the Customer.
7-Days Grace Period
There is a ONE time late payment forgiveness; a 7-days (calendar) payment extension automatically applies to a one time overdue invoice. The Customer settles the invoice amount within the grace period will not be taken as a late payment.
This is a one time operation applicable per purchase order.
Payment made after the 7-days payment extension will be considered as contract breaching and an order cancellation by the Customer.
Layaway Payment Plan accepts payment by credit cards only.
Order Cancellation and Penalty
The table below covers multiple scenarios and the consequences. Please contact Planet Deluxe for further clarification.
|1||Early pay off the outstanding (installment or full amount)||No|
|2||First late payment||No|
|3||Payment within 7-days payment extension||No|
|4||Recurring late payment||Order cancellation + 10% product price as penalty|
|5||Payment after 7-days payment extension||Order cancellation +10% product price as penalty|
|6||Order Cancellation within 2 calendar days after purchase.||No|
|7||Order Cancellation by the Customer during the layaway payment plan but after #5.||15% product price as penalty|
|8||Missing payment||Order cancellation + 25% product price as penalty|
PS: Planet Deluxe can only cancel the order due to uncontrollable causes include but limited to Theft, lost, natural disaster, damage. Planet Deluxe will provide the Customer supporting evidence and a notification of a full amount refund.
Version August 2021