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September 19th, 2014, 09:57 AM #1New FTC Rule Requires 30-day Delivery by Merchants
This new FTC ruling requiring merchandise delivery within 30 days or else refunding payment could have some serious implications for merchants who tend to back-order for long periods.
Some of the key points I found (and I'm not a lawyer, so others please jump in if I'm wrong)
- Doesn't affect merchants doing less than $35.5 MM in sales/year (their definition of small business). Wish this was the threshold of the Marketplace Fairness Act.
- Even brick and mortar stores are included if the order was placed online in their store
- Refunds must be issued within 7 days under specific guidelines
- Merchants must have specific permission from a buyer if the back-order will excceed 30 days.
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