Ask Reggi Your Question Now

Reggi is the free generative AI assistance for regulatory compliance
Ask a Question

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

Money-back Guarantee Requirements in Kentucky

Kentucky law does not have specific requirements for offering a money-back guarantee for products or services. However, businesses must comply with general consumer protection laws and regulations in Kentucky.

According to KYRS 367.638, it is unlawful to engage in unfair, false, misleading, or deceptive acts or practices in the conduct of trade or commerce in Kentucky. This includes making false or misleading statements about a product or service, including guarantees or warranties.

If a business offers a money-back guarantee, it must clearly disclose the terms and conditions of the guarantee to consumers. The terms and conditions should include the following information:

  • The length of the guarantee period
  • The conditions that must be met for a refund
  • Any limitations or exclusions that apply to the guarantee

Additionally, businesses must comply with KYRS 367.46963, which requires businesses to obtain a signed copy of a written contract complying with KRS 367.46961(4) before accepting payment from a consumer or making any charges to the consumer’s credit or bank account.

Requirements for doing business – Exemptions.

KYRS 304.45-040 outlines the requirements for doing business in Kentucky. However, it does not provide any specific information regarding money-back guarantees.

Liability for false, misleading, or deceptive representations – Bond or deposit to insure veracity of statements – Maintenance of records.

KYRS 367.815 outlines the liability for false, misleading, or deceptive representations and the requirements for registering a business opportunity in Kentucky. However, it does not provide any specific information regarding money-back guarantees.

Conclusion

Kentucky law does not have specific requirements for offering a money-back guarantee, but businesses must comply with general consumer protection laws and regulations. Businesses must clearly disclose the terms and conditions of the guarantee to consumers and comply with KYRS 367.46963 before accepting payment from a consumer. There is no specific information regarding money-back guarantees in KYRS 304.45-040 or KYRS 367.815.

Jurisdiction

Kentucky