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

Money-Back Guarantee Requirements in Nevada

Based on the provided context documents, there are no specific requirements or restrictions on offering a money-back guarantee for a product or service in Nevada. However, it is recommended that businesses offering such guarantees clearly disclose the terms and conditions of the guarantee to consumers to avoid any misunderstandings or disputes ^[2.1].

It is important to note that businesses operating in Nevada may be subject to various licensing and regulatory requirements, depending on the nature of their business. For example, businesses offering insurance products or services may be subject to licensing requirements under Chapter 694C or Chapter 695E of the Nevada Revised Statutes. Additionally, businesses offering portable electronics insurance may be subject to specific billing and collection requirements under NRS 691D.320 ^[2.1].

If you have further questions or concerns about the specific requirements for your business, it is recommended that you consult with a licensed attorney or other qualified professional.

Refund Requirements for Service Contracts

If you are offering a service contract, it is important to note that there are specific requirements for refunds in Nevada. A service contract is void and a provider shall refund to the holder the purchase price of the service contract if the holder has not made a claim under the service contract and the holder returns the service contract to the provider within a specified time period ^[2.2].

The right of a holder to return a service contract pursuant to this section applies only to the original purchaser of the service contract. A service contract must include a provision stating the right of the holder to return the service contract and the requirements for obtaining a refund ^[2.2].

Conclusion

In conclusion, there are no specific requirements or restrictions on offering a money-back guarantee for a product or service in Nevada. However, businesses offering such guarantees should clearly disclose the terms and conditions of the guarantee to consumers to avoid any misunderstandings or disputes. If you are offering a service contract, there are specific requirements for refunds in Nevada, and the contract must include a provision stating the right of the holder to return the service contract and the requirements for obtaining a refund. If you have further questions or concerns about the specific requirements for your business, it is recommended that you consult with a licensed attorney or other qualified professional.

Source(s):

• [2.1] Financial security: Requirements; limitation on use of money in reserve account; effect of failure to maintain.
• [2.2] Conditions under which service contract void and refund required; right of original purchaser; provision stating right required; requirements for refund; penalty.

Jurisdiction

Nevada

• General