Any retailer who accepts an advance payment or deposit for goods shall indicate that consumers’ accounts will be debited in advance of receipt of goods. The retailer will also state if the deposit is refundable or not. The retailer will indicate the period of time during which the delivery of the goods will be made to the consumer. If the customer does not take delivery of the goods during this time the retailer will advise of any additional charges. Distance selling operations may debit consumer accounts as a form of deposit only after the express agreement of the consumer has been obtained.
Failure by the consumer to perform their contractual obligation to pay the balance of the purchase price within the time period may give the retailer the legal right to retain some or all of the deposit to compensate for any loss.