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| Subject: Tales from CASE - CPFTA | |
Author: George | [ Next Thread |
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] Date Posted: Wed, Jul 18 2007, 23:16:20 While walking on the street, a consumer was approached by a salesperson from a timeshare company claiming that he had won a prize. However, the condition was that he had to attend a seminar which takes about 30 minutes. For several hours, he was made to listen to a presentation about the benefits of time-share overseas accommodation. On several occasions, the consumer was pressured to sign up a timeshare package valued at S$8,000. He also had to make a down-payment of S$1,000. As they were closing soon, they urged him to take up the offer immediately and handed him a set of documents to sign hastily. The following day, he realized that he had no intentions to take up the package and felt that he was pressured into signing the contract. He sought help from CASE immediately with regard to his case, hoping to cancel the agreement and get a full refund of his deposit of $1,000. CASE advised him about the Consumer Protection Fair Trading Act and found out that the company had failed to inform him about the Consumer Information Notice (CIN), the Cancellation Form and the 3 days cooling-off period. CASE wrote in to the company stating that the consumer was protected under the Consumer Protection Fair Trading Act and Consumer Protection ( Fair Trading) ( Cancellation of Contracts) Regulations and that he had the right to cancel the contract within 3 working days. As such, the company agreed to cancel the contract and made a full refund of S$1,000. Consumer Tips! Under the Consumer Protection (Fair Trading) (Cancellation of Contracts) Regulations, the consumer may cancel a timeshare contract within 3 working days (ie. excluding Saturdays, Sundays and public holidays) after the day the contract is entered into. Consumers are advised to notify the company in writing (ie. letter) within the 3 days should they wish to cancel such transactions. The letter is to be sent by hand or registered post or fax and not by email. Timeshare companies are obliged to inform and explain to consumers about the Consumer Information Notice (CIN) and Cancellation Form. The CIN informs the consumer of his right of cancellation and companies should also provide the consumer information as to whom the notice of cancellation is to be given. If the CIN has not been highlighted to the consumer, the cancellation period will commence on the day in which the CIN is brought to the consumer's attention. Under the Consumer Protection Fair Trading Act Section 4, it is an unfair practice to take advantage of a consumer by exerting undue pressure or undue influence on the consumer to enter into a transaction involving goods and services. Do not attend a timeshare presentation only for the "free" gift - very often, there are many restrictions, the free gift is seldom worth the time you spend. Go only if you are interested in a timeshare holiday. Do not buy a timeshare scheme for investment purposes - you often have difficulty in re-selling them. Do not buy timeshare solely for the right to travel to other resorts. There are sometimes tiresome conditions to fulfill before you are allowed to exchange your resort for another. Do not buy a timeshare out of pity for the salesperson having to talk to you for so many hours or for fear that he or she will lose his/her job. Remember that you are paying out a large sum of your hard-earned money. Make sure that you read and understand the terms and conditions in all contracts that you are signing. Contracts which you have signed are legally binding. If in doubt, always clarify with the company involved. Ensure that all verbal promises are committed to writing. [ Next Thread | Previous Thread | Next Message | Previous Message ] |