Lay-by Policy

Terms and Conditions: LAY-BY

Layby Terms, agreements and contract

Storm Family Trust Pty Ltd trading as has identified core principles we believe are integral and imperative for all Lay-Buy agreement deals transacted through our LAYBY checkout payment option to be fair and reasonable per the Fair Trading Act 1999.

The following principles below therefore make up the Terms & Conditions for any Lay-Buy or Layby contract and related transactions entered into. This applies to all and any lay-by contract template utilised by both the vendor or consumer:


1 Record of Payment

A record of payments transaction history will always be available for both the merchant and buyer, recording all amounts paid to-date and the date and value of all future pending payments as per your agreed lay-by policy.


2 Storage and Identification of Lay-By Products

Product’s on Lay-Buy will be set aside and stored separately to other products. Products will be clearly identified as ‘Lay-By contract’ products by a number or some other identification.


3 Cancellation of Lay-By by Buyer

The buyer may cancel their LayBy agreement form within 10 days of placing the original order. If a buyer cancels a Lay-By, seller will, if so requested by the seller, give the buyer a “cancellation statement” which sets out-

a) The purchase price of the products; and

b) Advise customer of the cancellation fee payable to seller under all Lay-By terms and conditions; and

c) The total amount paid under the Lay-By; and

d) Any amount owing to either the buyer or seller under the Lay-By terms on the cancellation of the Lay-By. If seller does not accept the buyer’s oral cancellation it is obliged to give/send the buyer a duly completed Lay-By Form of Cancellation immediately.


4 Cancellation of Lay-By by Seller

The seller under a Lay-By must not cancel it unless –

a) The buyer breaches a term of the Lay-By; or

b) The seller stops trading; or

c) The products are no longer available





5 Cancellation on breach by Buyer

If a buyer has breached a term of a Lay-By and seller intends to cancel the Lay-By, before doing so seller must –

a) Give the buyer notice of seller’s intention to cancel the Lay-By; and

b) Allow the buyer at least 14 days within which to rectify the breach; and

c) The notice to be given has to be:I) in writing, sent to the buyer’s last known email address attached to the order, or, if the buyer so agrees, orally; and

II) must specify the breach of the Lay-By for which the Lay-By is being cancelled; and

III) must state the time within which the buyer must rectify the breach;

IV) must state the matters listed per below:* the purchase price of the products;

* all cancellation charges payable under the agreement; and

* the total amount paid under the Lay-By;

* any amount owing to either the buyer or seller under the terms of the Lay-By on the cancellation of the Lay-By.The Lay-By is cancelled at the end of the period specified in the notice unless the buyer rectifies the breach before then or Seller agrees not to cancel it.


6 Cancellation where business closes

If Seller under a Lay-By agreement proposes to stop trading before the agreement is completed, Seller must give notice of the proposal to the buyer and must either –

(a) allow the buyer 7 days within which to complete the agreement; and

(b) cancel the Lay-By


7 Cancellation where products not available

If the products are no longer available, Seller must cancel the Lay-By and refund all monies to the buyer.


8 Effect of Cancellation

Subject to the above, when a Lay-By is cancelled by either party, Seller must refund all money paid within 14 days less a AUD $25 cancellation fee. There are circumstances which prohibit Seller from keeping the cancellation charge. These include but are not limited to, situations where the products are damaged or not delivered or where Seller has breached a term of the Lay-By statement.


9 Cancellation Charge

Seller shall charge the buyer a AUD $25 cancellation fee under the terms of all Lay-By deals.


10 Banking Charges back Fees

The seller shall be entitled to pass-on to the buyer all charge back fees received by any given bank for any given customer charge back from any given Lay-By deal.


11 Product Exchange

Products within Lay-By purchase are not available for refund/change of mind, unless product is faulty in which Seller will rectify by either replacing with a new product of the original product where possible or refund the total cost of the product upon return of the faulty item.


12 Lay-Buy Reporting

Seller shall have reporting in place for all Lay-By deals covering Down Payment made, Lay-By period, Frequency of payments required, Payment amount required per instalment; and a full record of all payments made to-date (amount and date on which made).


13 Delivery

The seller will only dispatch the buyer product/s after receiving the final instalment payment for all Lay-By deals.



14.1   This Agreement shall be binding upon, inure to the benefit of, and be enforceable by the representatives, successors and assigns of the parties hereto.

14.2   This Agreement may be amended only by a written instrument duly executed by all parties hereto.

14.3   The parties hereby represent and warrant that each of them has full legal right, power and authority to enter into this Agreement and to carry out its obligations hereunder.

14.4   This Agreement may be executed simultaneously in one or more counterparts, each of which shall be deemed an original but all of which together shall constitute one and the same instrument.

14.5   Article headings contained herein are for reference purposes only and shall not in any way affect the meaning or interpretation of this Agreement.