Lay-by Terms and Conditions
Our Lay-by Policy sets out the terms and conditions under which Ivanhoe Cycles offers lay-by services to its customers.
A lay-by arrangement allows customers to reserve and purchase products by making a series of installment payments, with the product(s) being delivered or collected upon completion of all payments. The maximum lay-by period is 12 weeks from first installment date or deposit date.
1. Customer Eligibility:
1.1. Lay-by services are available to customers who meet the following criteria:
a) Must be at least 18 years old or have the consent of a legal guardian.
b) Must provide valid identification and contact details.
c) Must agree to comply with the terms and conditions of the lay-by agreement.
2. Product Eligibility:
2.1. Not all products are eligible for lay-by. The availability of lay-by services is at the sole discretion of Ivanhoe Cycles.
3. Lay-by Process:
3.1. Selection of Product: Customers may select eligible products for lay-by in-store. The customer shall receive an invoice specifying the product details, total purchase price, and any applicable fees.
3.2. Deposit: A minimum deposit of 10% of the total invoice amount is required to start the lay-by.
3.3. Installment Payments: Customers must make regular installment payments every 2 weeks. Installment payments can be made via phone, in-store or bank deposit.
3.4. Final Payment and Collection: The customer must complete all payments by the 12 week period. Upon receipt of the final payment, the product(s) will be made available for collection or delivery.
3.5. Lay-by Extension:
If an extension is required, please call the store that the lay-by was initiated and request an extension.
4. Cancellation and Refunds:
4.1. Customer Cancellation:
Customers have the right to cancel their lay-by at any time before the final payment is made. In the event of cancellation, the Ivanhoe Cycles will refund the amount paid by the customer, less a cancellation fee.
The cancellation fee is 10% of the total invoice price. The refund will be provided within 7 business days from the date of cancellation.
4.2. Company Cancellation:
Ivanhoe Cycles reserves the right to cancel the lay-by agreement in the event of non-compliance with the agreed-upon terms and conditions.
If the customer fails to make more than 1 installment payment within the 12-week period, the lay-by may be considered void, and the Ivanhoe Cycles will retain 10% of the invoice total as a restocking fee.
5. Changes to Lay-by Agreement:
5.1. Any changes or amendments to the lay-by agreement must be made to the store where the lay-by initiated.
6. Holding and Storage:
6.1. Ivanhoe Cycles will hold the selected product(s) for the customer in good condition until the full payment is received.
7. Governing Law:
7.1. This Lay-by Policy shall be governed by and construed in accordance with the laws of Victoria, Australia.
By engaging in a lay-by agreement with Ivanhoe Cycles, customers acknowledge that they have read and understood this Lay-by Policy and agree to adhere to its terms and conditions. Further information can be found on the Consumer Affairs Victoria Lay-by practices.