Lay-By Agreement | Australia and New Zealand
Give your customers the option to purchase goods on instalment payments with this template Lay-By Agreement for Australia and New Zealand.
- The customer can pay for the goods over time, and take possession when all payments have been made. This method of purchasing is also known as layaway.
- The seller has the right to terminate the Agreement if the customer misses a payment, or if a payment cannot be processed due to some fault of the customer.
- If the customer cancels, the seller will charge a cancellation fee to cover its reasonable costs, such as storage, depreciation, and administrative costs.
- There is a 1-week grace period granted to the customer to decide whether to proceed with the purchase or cancel the Agreement.
- This Agreement can be used in both Australia and New Zealand.
Your customers will appreciate being able to make a purchase by instalments. Get the Lay-By Agreement for your credit department - easy to use, easy to customise for your business.
Last Updated: 11-February-2021