Cancellation by you (the customer)

1. If at any time during the lay-by period you wish to cancel your lay-by you must advise us as soon as practical by either:
   • In Person: We will ask for verification of your identity (Photo ID)
   • Phone: We will ask a number of security questions to verify that it is you cancelling the lay-by

   Note: that due to inability of verifying your identification we cannot accept cancellation of lay-by via email, text or chat.

2. At time of cancellation, you will be charged our standard cancellation fee of 20% of the total sale amount, this fee can be no greater than $200.
3. Pennywise will refund all money paid by you, less cancellation fee.
4. Refunds must be processed through the same payment channel that your original payments have been made. In the instance that different payment channels have been used across multiple payments then we will refund relevant payments through the specific channels used originally.
5. Our cancellation fee only covers the businesses’ reasonable costs relating to this lay-by agreement, such as storage and administrative costs and in some cases the depreciation of the item’s price.

Cancellation by you (the customer)

If you (the customer), for any reason or circumstance:

1. Fail to make regular payments during the lay-by period totaling a minimum of 50% (inclusive of deposit) after 1 month since the start of the lay-by period, Pennywise reserves the right to cancel your lay-by agreement and charge our standard cancellation fee of 20%.
2. Fail to pay the full balance of the purchase by the 8 week lay-by period, Pennywise reserves the right to cancel your lay-by agreement and charge our standard cancellation fee of 20%.
3. Pennywise will refund all monies paid by you, less cancellation fee.
4. Refunds must be processed through the same payment channel that your original payments have been made. In the instance that different payment channels have been used across multiple payments then we will refund relevant payments through the specific channels used originally.
5. Our cancellation fee only covers the businesses’ reasonable costs relating to this lay-by agreement, such as storage and administrative costs and in some cases the depreciation of the item’s price.

If any part of this policy is contrary to law or an industrial instrument, the law or industrial instrument will apply to the extent of the inconsistency.

This policy is subject to review by us and may be changed or revoked at any time. If an employee has a valid reason for not complying with this policy, they should contact management so management can consider whether to grant an exception.