Why Do I Have To Pay A Restocking Fee?

What is a restocking fee for?

Some businesses charge a “restocking fee” when their customers return merchandise for a refund of the selling price.

The amount deducted is the amount credited for the goods returned, excluding any adjustment for restocking fees.

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The retailer must bear the cost of returns, and it is unlawful for any restocking fee to be charged.

How are restocking fees calculated?

Calculate the net sales price of returned merchandise. Next, subtract the penalties charged to customers for returns, and add any costs associated with restocking returned merchandise. Now divide this figure by net sales and multiply the result by 100.

When can you charge a restocking fee?

Restocking fees may be charged when merchandise is returned in an open box, in a badly damaged box, or without the original box it came in. Restocking fees may also be charged if merchandise is returned without all the original packaging, instructions, and accessories.

How much is HP restocking fee?

Products that are not defective can be returned within 30 days after delivery and will be subject to a fee of $15 for restocking. HP may authorize, in its sole discretion, a return for items over 30 days after delivery, however a restocking fee of 25% will apply.

How long does a company have to refund money?

Whether you can receive a refund is dependent on the retailer’s return and refund policies. Retailers are required to clearly post their refund policy unless they offer a full cash refund, exchange, or store credit within seven days of the purchase date.

Can I cancel an online order before delivery?

Under the Consumer Contracts Regulations, you have the right to cancel an online order as soon as you place it or from 14 days after you receive it. As part of these regulations, you should get a refund within 14 days of the retailer receiving the goods or you giving evidence that you’ve returned them.

How do I avoid restocking fee?

If one orders an item online and the product turns out to be a different color or size than the one actually ordered, then the buyer can usually exchange the item in question free of charge. It is also possible to avoid restocking fees by only shopping at retail outlets that do not charge such a fee.

Is it illegal to have no refund policy?

A store is legally required to post its refund policy. If the store doesn’t post any return policy, the law requires the store to accept returns within 30 days of purchase. No legal right to cancel contracts or purchase agreements. … If a merchant doesn’t have a refund policy posted, the consumer is entitled to a refund.

What is the cooling off period for online purchases?

For most goods you buy online you have a 14-day cooling-off cancellation period, which doesn’t end until 14 days from the day you receive your goods. For most services you buy online you have a 14-day cooling-off cancellation period from the day you place your order.

Should companies refund postage?

According to the Consumer Contracts Regulations, introduced in 2014, customers who return items should get a refund for the price of the goods and the standard postage costs they paid for home delivery.

At many retailers, restocking fees are allowed as long as the fee is clearly disclosed and as long as it isn’t charged if you’re returning an item because of a defect or missing part, or because it wasn’t what you ordered. … You don’t have to pay a restocking fee if the item you are returning is defective.