Product holds & Layaways

Product holds and Lay-a-ways are about reserving in store merchandise.
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Given the way manufacturers are moving more and more to production of preordered merchandise with a limited amount for their warehouse, individuals are finding certain items harder and harder to obtain. In particular, for whatever reason, it they miss a preorder cycle, they may, or may not, be able to still order their item of interest. More importantly, if they miss the preorder and delivery cycle and find what they want available in a store, they are almost pushed to buy it for there is a good chance the item may not be there on their next store visit. It is for this reason product holds and lay-a-ways are available.

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Product Hold: A product hold is simply the removal of a product for sale and held for a particular customer. Product holds are of two types. One type is the individual requests a product to be held for them with a commitment to pick it up on or before an agreed upon date. If the customer does not pick the item up at the end of the agreed upon day the product is returned for product sale. The second product hold is the customer provides a deposit on the item and it is removed from sale. The customer then agrees to pick the item up on or before an agreed upon date or they place the item in layaway.

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Law-a-way: Lay-a-ways only applies to full price items or to items whose price has been specifically reduced for clearance. Preorder discounts are not applicable Lay-a-way items. (If a lay-a-way approach is desired for a preorder item and the preorder discount is desired, the customer will need to make periodic prepayments and pay the item off before it arrives or upon arrival).

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The goal of the lay-a-way program is to help obtain what you desire and make any purchase you want  with relatively easy payment. But the lay-a-way plan must be used responsibility. Normally a lay-a-way requires an initial 10% down and the balance to be paid within 90 days unless other arrangements are negotiated. Once a lay-a-way has begun the payments are non-refundable but transferable with penalty. The penalty is determined by the ease of selling the lay-a-way product and the amount (percentage) paid. Final payments not received within 90 days of the start of the Lay-a-way (first payment) without prior arrangements being made will be considered a cancellation of the original order. As such, a 15% restocking fee will be applied. All payments received as of the time of the cancellation less the 15% restocking fee will be applied as a store credit that can be used against future purchases. The lay-a-way program is for the convenience of the customer. As such, it is the customer’s responsibility to know when the payment(s) is/are do and to make such payment(s).