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

To offer a money-back guarantee for a product or service in Illinois, there are no specific requirements under Illinois law. However, it is recommended that the terms and conditions of the guarantee be clearly stated in writing and provided to the customer before the purchase is made. This will help avoid any misunderstandings or disputes that may arise later.

According to ^[4.1], refunds and credits are allowed in Illinois, but the terms and conditions must be clearly stated in writing and provided to the customer before the purchase is made. The seller must also provide a receipt or other proof of purchase.

It is important to note that certain industries may have specific regulations or requirements regarding refunds and guarantees. For example, insurance companies are subject to regulations regarding refunds and credits for premiums paid ^{[2.1][3.1][6.1][6.2][6.3]}.

In summary, while there are no specific requirements for offering a money-back guarantee in Illinois, it is recommended that the terms and conditions be clearly stated in writing and provided to the customer before the purchase is made. It is also important to be aware of any industry-specific regulations or requirements.

Source(s):

• [2.1] Licenses Conditioned upon Compliance with Insurance Requirements
• [3.1] 215 ILCS 5/174.1
• [4.1] Refunds and Credits
• [6.1] 215 ILCS 100/40
• [6.2] 215 ILCS 100/55
• [6.3] 215 ILCS 100/10

Jurisdiction

Illinois

• General