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fax CFL Financial 07 3328 8999
phone CFL Financial 07 3328 8988
Email CFL Financial mail@cflfinancial.com.au

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Retirement-in style

Retire in style checklist™

There are a few reasons why Business Owners need a Retire In Style Checklist

If you’re a successful and Motivated business owner, and want to set yourself up for retirement, this guide would be perfect for you. My clients who follow these 3 simple steps live with comfort, security and the peace of mind that financial success brings.

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The Retirement Prosperity Guide™

Make sure you don’t miss out on the Retirement Prosperity Guide

If you’re a busy Professional and you feel like you’re not building your wealth fast enough and you want smarter ways to utilise your cash flow, this guide is perfect for you. Clients who have used our strategies have the peace-of-mind knowing they have a ‘game plan’ for financial abundance.

Refund policies in business

Posted on Mar 21, 2014 by CFL Financial

Businesses have specific obligations under Australian Consumer Law (ACL) when it relates to refunds, returns, guarantees and warranties.

Here are some basic tips when constructing a refund policy:

-it is illegal to put up a ‘no refund’ sign in store, or online

-if the product has a major failure the businesses must give a refund, replacement or compensation

-if a product has a minor failure the business must offer to repair, replace or refund

-it is the businesses choice whether to provide a refund if the customer changes their mind

Refund obligations can be placed into two categories; minor and major faults. According to ACL, a major failure is when a product or service fails to meet a consumer guarantee, whereas a minor fault occurs when a problem with the product can be fixed easily and in a reasonable time.

The remedy a business is obligated to provide will depend on whether the fault was major or minor.

When a business receives a refund the first step they should take is to find out, preferably in writing, what the reason is for the refund request. This is valuable information that can be used to improve the businesses products and services.

To prevent there from being issues with refunds businesses should ensure that the refund and return policy is easily accessible by customers. If some goods are unable to be refunded, such as swimwear or perishable products, this must be clearly outlined in the refund policy. It is important that customers be able to access and understand the policy before making a purchase.

It is also important that the businesses refund policy complies with Australian Consumer Law. For example, it is illegal to not offer a refund if the goods are faulty.

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Retirement-in style

Retire in style checklist™

There are a few reasons why Business Owners need a Retire In Style Checklist

If you’re a successful and Motivated business owner, and want to set yourself up for retirement, this guide would be perfect for you. My clients who follow these 3 simple steps live with comfort, security and the peace of mind that financial success brings.

Retirement-prosperity-thumbnail

The Retirement Prosperity Guide™

Make sure you don’t miss out on the Retirement Prosperity Guide

If you’re a busy Professional and you feel like you’re not building your wealth fast enough and you want smarter ways to utilise your cash flow, this guide is perfect for you. Clients who have used our strategies have the peace-of-mind knowing they have a ‘game plan’ for financial abundance.

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Phone: 07 3328 8988
Fax: 07 3328 8999

Office Location:
Level 9, 360 Queen Street
Brisbane
QLD 4000

Postal Address:
GPO Box 2468,
Brisbane,
QLD, 4001

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