How It works
.Payment Method
- Buyer is presented PUT IT ON LAY-BUY powered by PayPal in checkout, and selects method
- Confirm Order Buyer selects down-payment to pay today
- Buyer is taken to PayPal’s landing page. buyer pays the down-payment today with their PayPal a/c or their credit card. PayPal then sets up the LAY-BUY payment plan between consumer and merchant. PayPal then sends two email notifications to merchant and buyer. (One for the down-payment and another that a payment plan has been setup) Note: if buyer does not have a PayPal a/c, they will pay with their credit card today and a PayPal a/c is setup for the LAY-BUY payment plan payments
. Instalment payment
- plan is setup in PayPal between buyer and merchant.
- Payments are auto pulled from customer PayPal setup and paid into merchant’s PayPal account, on their due date.
- PayPal sends email payment notifications to merchant and buyer.
. Revise a LAY-BUY order
- A buyer can revise a LAY-BUY order to pay it off early at any time.
- The process involves the merchant revising the payment plan from the LAY-BUY App. The revise feature enables buyer to settle outstanding balance and take earlier delivery.
- When payment plan is revised by merchant in LAY-BUY App, the buyer is sent an email with the payment link embedded in email. The consumer then clicks on payment link, is taken to PayPal and then makes payment.
. Refunding LAY-BUY payments
- All refunds are done from within PayPal.
Rules & Terms
. Payment Schedule & Terms
- Down Payment / Initial Deposit: A non-refundable 20% deposit is due to reserve the item.
- Installment Plan: The remaining balance will be paid in with in 2 months to the date of the Intitial deposit in equal installmants
- Final Pay-Off Date: The entire balance must be paid in full on or before the 2 Month date
- Accepted Payment Methods: Lay-buy paypal payment gate.
. Late Payments and Grace Period
- Payments are due on their scheduled dates.
- A grace period of 5 days is permitted. If a payment is more than 5 days late, the downpayment / initial deposit will be forfeited and any remaining balance returned.
. Cancellation and Default Policy
- Buyer Cancellation: If the buyer cancels the agreement before the final payment deadline, the seller may retain a cancellation restocking fee of the initial deposit and downpayment of 20% or a percentage with the remainder issued as store credit or a refund per state law.
- Default / Non-Payment: If the balance is not paid in full by Final Due Date or payments lapse beyond the allowed default window, the agreement is cancelled automatically. All prior deposits and installments may be forfeited, and the merchandise will be returned to inventory.
. Delivery
- The seller will only fulfil order and deliver the product/s after receiving the final
instalment payment for all Lay-Buy orders. Any Sizing are modification will be done after final payment