You may be entitled to a cooling off period

Let’s say you make a purchase or sign an agreement in your home and then change your mind. If the deal is worth more than $50, you have the right to cancel within 10 days and get your money back. It’s best to cancel by registered mail or fax.

Remedies must be timely

When you take advantage of your 10-day cooling off period and notify the business (preferably in writing) that you have changed your mind, the company has 15 days to return your money. The business has the right to take back the goods provided under the agreement by either picking them up or paying for the cost of sending them back.

If you are sent goods you didn’t ask for, you don’t have to accept or pay for them

In fact, you may use them or throw them out. You’re not responsible for an unsolicited credit card either — unless you buy something with it.

Pre-paid goods or future performance agreements over $50 must have a written agreement

When some part of the agreement occurs in the future, (e.g., a gym membership) and the goods or services are worth more than $50, a written agreement is required. The agreement must contain complete details of the transaction and full disclosure of any credit terms.

Agreements must be clear and understandable

Vague language is discouraged in agreements. All required information must be clear, prominent and easy to understand. If there is a dispute over unclear language, the law requires that it be interpreted in favour of the consumer.

Credit terms must be fully disclosed

Anyone providing goods or services on credit must give the consumer a written statement showing all financing charges and the annual percentage rate of the credit transaction. It must also explain how any extra charges would be calculated if you failed to make the payments.

You have the right to seek help

Some businesses add arbitration clauses to agreements that require you to use a private arbitration process to resolve complaints instead of going to court or seeking assistance from the Ministry of Consumer Services. You are not bound by these clauses, even if you have accepted the agreement.

Misrepresentation is illegal

All charges in an agreement must be what they say they are. For example, a business may not add a $20 surcharge for a “tax” that is not really for tax. Make sure you understand what each charge is for and that it’s valid.

Sales incentives may not be false, misleading or deceptive

A salesperson can offer you an incentive to help find other buyers, but the description of the incentive cannot be false, misleading or deceptive.

Consumer agreements must disclose all details

If you have entered into an agreement in which a cooling off period applies and you discover that the business failed to disclose something they were required to by law you have the right to cancel within one year.

Your goods cannot be repossessed if you have paid 2/3 or more

If you have paid at least two-thirds of the cost of your goods, a business can’t take them back from you except by court order. But remember, if you miss a payment, the business can take you to court to get full payment, and this could hurt your credit rating.

Deliveries must be on time

Deliveries must be on time. The Consumer Protection Act, 2002 gives the supplier 30 days from the promised date. After that, you can cancel the contract by sending a cancellation letter; however you lose the right to cancel the agreement if you accept delivery after the 30 days.

Anyone who violates the Consumer Protection Act, 2002 may be subject to prosecution

Individuals violating certain sections of the act are liable to a fine of up to $50,000 or imprisonment of up to two years less one day or both. A corporation can be fined up to $250,000.