Summary: Layaway Cancellation/Restocking Fees

Full layaway policy

• For 3 payment layaway plans, the cancellation/restocking fee is 10% of the original purchase amount.

• For 6 payment layaway plans, the cancellation/restocking fee is 20% of the original purchase amount.

• For 12 payment layaway plans, the cancellation/restocking fee is 30% of the original purchase amount.

Please note that these amounts are NOT in addition to any restocking fees for ring sizing or non-refundable deposits for special orders. The higher of the layaway cancellation/return fee, the individual item restocking fees for ring sizing, or any non-refundable deposits for special orders will be used in determining any cancellation or restocking fee.  See examples below.

Examples: Cancellation/Restocking Fee calculation

Example 1: You wish to purchase a ring with a price of $1999 and select ring sizing, which has a $100 ring sizing restocking fee if the ring is returned. If you choose to purchase this ring with the 3 payment layaway plan (10% cancellation/return penalty), the total penalty, only if the layaway is cancelled or the item is returned, is $199.90 (10% of the order total). The $100 restocking fee for the ring sizing is waived.

Example 2: You wish to purchase a special order ring (like an eternity band) with a price of $2499 with a special order 20% non-refundable deposit. If you choose to purchase this ring with the 3 payment layaway plan (10% cancellation/return penalty), the total penalty, only if the layaway is cancelled or the item is returned, is $499.80 (20% of the order total). In this case, since the non-refundable deposit is greater than the layaway cancellation/return penalty, the layaway cancellation/return penalty is waived and only the non-refundable deposit applies.

Example 3: Using the same example as above, if you select the 12 payment layaway plan (30% cancellation/return penalty), the total penalty, only if the layaway is cancelled or the item is returned, is $749.70 (30% of the order total). > In this case, since the layaway cancellation/return penalty is greater than the non-refundable deposit, the non-refundable deposit is waived and only the layaway cancellation/return penalty applies.

Summary: Examples Above