(A) This chapter shall also be governed by the Business Transaction Act ILCS Ch. 815, Act 5 et seq., as it exists on date of passage of this ordinance or as hereafter amended from time to time, and Part 429.0 - Rule Concerning Cooling-Off Period For the Sales Made at Homes or at Certain Other Locations of the Federal Trade Commission,
(B) (1) Where a sale of merchandise involving $25 or more is made or contracted to be made whether under a single contract of under multiple contracts, to a consumer by a seller who is physically present at the consumer’s residence, that consumer may avoid the contract or transaction by notifying the seller within 3 full business days following that day on which the contract was signed or the sale was made, and by returning to the person in its original condition, any merchandise delivered to the consumer under the contract or sale. At the time the transaction is made or the contract signed, the person shall furnish the consumer with a fully completed receipt or contract pertaining to the transaction, in substantially the same language as that principally used in oral presentation to the consumer, containing a “notice of cancellation” informing the consumer that he may cancel transaction at any time within 3 days and showing the date of the transaction with the name and address of the person, and in immediate proximity to the space reserved in contract for the consumer’s signature or on the front page of the receipt if a contract is not used, a statement shall be in bold face type, in at least 10-point type, and in substantially the following form:
YOU THE CONSUMER, MAY CANCEL THIS TRANSACTION AT ANY TIME PRIOR TO MIDNIGHT THE THIRD BUSINESS DAY AFTER THE DATE OF THIS TRANSACTION. SEE THE ATTACHED NOTICE OF CANCELLATION FORM FOR AN EXPLANATION OF THIS RIGHT.”
(2) Attached to the receipt or contract shall be a completed form in duplicate, captioned “NOTICE OF CANCELLATION” which shall be easily detachable and which shall contain in 10-pint bold face type the following information and statements in the same language as that used in the contract:
NOTICE OF CANCELLATION
(Enter date of transaction)
Date
YOU MAY CANCEL THIS TRANSACTION, WITHOUT ANY PENALTY OR OBLIGATION, WITHIN 3 BUSINESS DAYS FROM THE ABOVE DATE.
IF YOU CANCEL, ANY PROPERTY TRADED IN, ANY PAYMENTS MADE BY YOU, AND ANY NEGOTIABLE INSTRUMENT EXECUTED BY YOU UNDER THE CONTRACT OR TRANSACTION WILL BE RETURNED WITHIN 10 BUSINESS DAYS FOLLOWING RECEIPT BY THE SELLER OF YOUR CANCELLATION NOTICE, AND ANY SECURITY INTEREST ARISING OUT OF TRANSACTION WILL BE CANCELLED.
IF YOU CANCEL, YOU MUST MAKE AVAILABLE TO THE SELLER AT YOUR RESIDENCE IN SUBSTANTIALLY AS GOOD A CONDITION AS WHEN RECEIVED, ANY GOODS DELIVERED TO YOU UNDER THE CONTRACT OR TRANSACTION, OR YOU MAY, IF YOU WISH, COMPLY WITH THE INSTRUCTIONS OF THE SELLER REGARDING THE RETURN SHIPMENT OF THE GOODS AT THE SELLER’S EXPENSES AND RISK.
IF YOU MAKE THE GOODS AVAILABLE TO THE SELLER AND THE SELLER DOES NOT PICK THEM UP WITHIN 20 DAYS OF THE DATE OF YOUR NOTICE OF CANCELLATION, YOU MAY RETAIN OR DISPOSE OF THE GOODS WITHOUT ANY FURTHER OBLIGATION. IF YOU FAIL TO MAKE THE GOODS AVAILABLE TO THE SELLER, OR IF YOU AGREE TO RETURN THE GOODS TO THE SELLER AND FAIL TO DO SO, THEN YOU REMAIN LIABLE FOR PERFORMANCE OF ALL OBLIGATIONS UNDER THE CONTRACT.
TO CANCEL THIS TRANSACTION, MAIL OR DELIVER A SIGNED AND DATED COPY OF THIS CANCELLATION NOTICE OR ANY OTHER WRITTEN NOTICE OR SEND A TELEGRAM, TO (Name of Seller), AT (Address of Seller’s place of business) NOT LATER THAN MIDNIGHT OF (date).
I HEREBY CANCEL THIS TRANSACTION.
DATE:
(Buyer’s Signature)
(C) Such written notice of cancellation may be sent by the consumer to the person to cancel the contract. The 3 day period provided for in this section does not commence until the consumer if furnished a notice of cancellation, and the address at which such notice to the seller can be given. If those conditions are met, the seller must return to the consumer the full amount of any payment made or consideration given under the contract or for the merchandise. It is an unlawful practice within the meaning of this Act for any person to:
(1) Fail, before furnishing copies of the notice of cancellation to the consumer, to complete the copies by entering the name of the person, the address of the person’s place of business, the date of the transaction, and the date, not earlier than the third business day following the date of the transaction, by which the consumer may give notice of cancellation;
(2) Include in any contract or receipt under this section any confession of judgment or any waiver of any of the rights to which the consumer is entitled under this section including specifically his right to cancel the transaction in accordance with the provisions of this section;
(3) Fail to inform each consumer orally, at the time he or she signs the contract or purchases or leases the goods or services, of his or her right to cancel;
(4) Misrepresent in any manner the consumer’s right to cancel;
(5) Use any undue influence, coercion or any other willful act or representation to interfere with the consumer’s exercise of his or her rights under this section;
(6) Fail or refuse to honor any valid notice of cancellation by a consumer and within 10 business days after the receipt of such notice, to:
(a) Refund all payments made under the contract or sale;
(b) Return any goods or property traded in, in substantially as good a condition as when received by the person; or
(c) Cancel and return any negotiable instrument executed by the consumer in connection with the contract or transaction and take any action necessary or appropriate to terminate promptly any security interest created in the transaction.
(7) Negotiate, transfer, sell, or assign any note or other evidence of indebtedness to a finance company or other third party prior to midnight of the fifth business day following the day the contract was signed or the goods or services were purchased or leased; or
(8) Fail, within 10 business days of receipt of the consumer’s notice of cancellation, to notify him whether the seller intends to repossess or to abandon any shipped or delivered goods.
(D) For the purposes of this section, the word “sale” includes a sale, lease or rental.
(Ord. 1658, passed 3-22-1999; Am. Ord. 2287, passed 7-25-2011; Am. Ord. 2358, passed 7-17-2012)