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Notice Of Cancellation Form, or "Cool Off" Notice

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Price: $14.95
Item Number: 00107
Notice Of Cancellation Form Rev 03/09, form# 00107
"Cool Off Notice"
Pack of 100 2-part forms.
Used when making sales or contracts at a customer's place of residence.
 
Also use when completing Internet Sales and sending all paperwork to customer's location.

Where goods or services including Vehicles having a sale price of twenty-five dollars ($25) or more are sold or contracted to be sold to a buyer, as a result of, or in connection with, a contract with or call on the buyer at his residence, that consumer may avoid the contract or sale by notifying, in writing, the seller within three full business days following the day on which the contract or sale was made by returning or holding available for return to the seller, in its original condition, any merchandise received under the contract or sale.  Such notice of rescission shall be effective upon depositing the same in the United States mail or upon other service which gives the seller notice of rescission.  At the time of sale or contract the buyer shall be provided with: a reciept or copy of contract with indication of their right to cancel the transaction, and a "Notice of Cancellation".  Form #00107 meets the requirements of the notice and should be used in all applicable transactions.
 
As reported in PAA News Bulletin No. 7, April 17th, 2009
 
AT HOME SOLICITATION REQUIRES COOL OFF NOTICE
(Attn: General, F&I and Sales Managers)
If a vehicle was purchased from a home solicitation sale or a sale that occurs in a location other than the seller's regular place of business, the Federal Trade Commission's "Cooling Off Rule" allows a period of three days during which time a consumer may cancel a purchase.
 
When visiting a dealership, the customer initiates the sale and the Cooling Off Rule does not apply. The signed documents that complete the sale are binding, and the customer may not return the vehicle for a refund because he changed his mind.
 
Off-Premise Sales
The Cooling Off Rule does not apply to organized, off-premise sales (i.e. tent sales, auto shows), which are considered extensions of the dealers permanent place of business.
 
Internet Sales
The Cooling Off Rule does not apply to internet sales. Even if the dealer has a delivery driver obtain the buyer's signature at the buyer's residence after an Internet sale is completed, the rule would not be triggered. However, if the driver performs other functions, such as continuing the Internet negotiations or selling additional products or services, the rule would apply.
 
Specific Wording on Buyers Order and Attached Cancellation Form Must Be Used
If a sale is completed at the buyers residence, the following statement must be printed in bold, using a minimum ten point font, next to the buyers signature line on the buyers order:
 
You, the buyer, may cancel this transaction at any time prior to midnight of the third business day after the date of this transaction. See the attached notice of cancellation form for an explanation of this right.
 
In addition, a notice of cancellation must be attached to the buyers order. Notice of cancellation forms are available through PAA Dealer Purchasing Services and can be ordered at www.paadps.com or by calling 1-800-692-7295.
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