What do I need to do if I want to offer a Layaway Plan?
Here's is you'll need to do if you choose to offer a Layaway Plan:
- If you offer layaway, select "Yes" after "Layaway Plan Offered".
This automatically defaults to "No" unless you change it to Yes. Your
Layaway Plan will apply to all items in your shop and cannot be
independently applied to single items only.
- Next, select the duration for your Layaway Plan.
- Next, select the frequency of which you will require Layaway
Plan payments. Please note that you can also select "None Specified" for
- Next, select the percentage of down payment you require. The down payment applies to the percentage of the order total, including shipping and tax.
- The next two options allow you to select whether you accept returns or exchanges under your Layaway Plan.
- If you choose to accept returns or exchanges, the next selection allows you to choose whether you charge a Restocking Fee.
Next you'll choose what percentage that Restocking Fee will be.
- The last field allows to you choose your Cancellation fee percentage, if any.
Note: Restocking and Cancellation Fees apply to the total purchase price of the item and Do Not include shipping/handling or sales tax, which is the responsibility of the buyer.
Some state and local laws specifically apply to Layaway purchases.
These laws vary widely in what they require. In addition, most states
have general consumer protection laws that may apply to Layaway's.
Shop owners are responsible for knowing their State and Local laws
applicable to Layaway's.
Federal Trade Commission page on Layaway's.
Click Here to View all the questions in Shop Fees, Payments & Layaways
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