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Can I offer a money-back guarantee for my product or service in Colorado? What are the requirements?

Here is the response to your query:

Money-back Guarantee in Colorado

In Colorado, providers of service contracts are required to register with the Commissioner and comply with certain regulations [1.1]. However, we could not find any specific regulation that prohibits or allows offering a money-back guarantee for a product or service in Colorado.

Therefore, it is recommended that you consult with a legal professional to ensure that your money-back guarantee complies with all applicable laws and regulations in Colorado.

Requirements for Providers of Service Contracts

Providers of service contracts in Colorado are required to register with the Commissioner and comply with certain regulations [1.1]. The registration requirements include submitting a Consumer Goods Service Contract Provider Registration Form, a complete copy of the reimbursement insurance policy or audited financial statements, and a Uniform Consent to Service of Process form [1.1]. Providers must also pay a fee upon registration and annually thereafter [1.1].

If there is any change to the information contained in the registration form, the provider must update its registration information within thirty (30) days of the change [1.1]. Noncompliance with the regulations may result in the imposition of sanctions, including civil penalties, cease and desist orders, and/or suspensions or revocation of license [1.2][2.2].

Conclusion

There are no specific regulations in Colorado that prohibit or allow offering a money-back guarantee for a product or service. It is recommended that you consult with a legal professional to ensure that your money-back guarantee complies with all applicable laws and regulations in Colorado. Providers of service contracts in Colorado are required to register with the Commissioner and comply with certain regulations, including submitting a registration form, providing proof of insurance or financial statements, and paying a fee [1.1].

Source(s):
Jurisdiction

Colorado