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

Here is the response to your query:

Money-back Guarantee in Wyoming

According to the Wyoming statutes, service contracts sold in the state must allow the original service contract holder to return the service contract within twenty (20) days of the date the service contract was mailed to the service contract holder or within ten (10) days of delivery if the service contract is delivered to the service contract holder at the time of sale or within a longer time period permitted under the service contract. Upon return of the service contract to the provider within the applicable time period, if no claim has been made under the service contract prior to its return to the provider, the service contract is void and the provider shall refund to the service contract holder, or credit the account of the service contract holder, with the full purchase price of the service contract [1.1].

Additionally, service contracts marketed, sold, offered for sale, issued, made, proposed to be made, or administered in Wyoming must be written, printed or typed in clear, understandable language that is easy to read and shall disclose the requirements set forth in the Wyoming statutes, as applicable [1.3].

Furthermore, providers of service contracts are required to keep accurate accounts, books, and records concerning transactions regulated under the Wyoming statutes. The provider’s accounts, books and records shall include copies of each type of service contract sold, the name and address of each service contract holder, a list of the locations where service contracts are marketed, sold or offered for sale, and written claims files, which shall contain at least the dates and description of claims related to the service contracts. The provider shall retain all records required to be maintained for at least one (1) year after the specified period of coverage has expired [1.2].

Conclusion

You can offer a money-back guarantee for your product or service in Wyoming, as long as it complies with the requirements stated in the Wyoming statutes. The service contract must allow the original service contract holder to return the service contract within twenty (20) days of the date the service contract was mailed to the service contract holder or within ten (10) days of delivery if the service contract is delivered to the service contract holder at the time of sale or within a longer time period permitted under the service contract. Upon return of the service contract to the provider within the applicable time period, if no claim has been made under the service contract prior to its return to the provider, the service contract is void and the provider shall refund to the service contract holder, or credit the account of the service contract holder, with the full purchase price of the service contract. Additionally, the service contract must be written, printed or typed in clear, understandable language that is easy to read and shall disclose the requirements set forth in the Wyoming statutes, as applicable. Finally, providers of service contracts are required to keep accurate accounts, books, and records concerning transactions regulated under the Wyoming statutes.

Source(s):
Jurisdiction

Wyoming