Consumers Assn Of Singapore Consumers who pay in advance lose out when retailers shut down
Consumers are often left in the lurch when retailers shut down due to poor business or cash-flow problems. This happens mostly with bridal studios, car dealers, spa boutiques and travel agencies.

These businesses usually require customers to pay deposits in advance to secure a transaction.

When closures occur, customers will lose their deposits and not get the end products as stated in the contracts. They will then have to lodge a complaint with the Consumers Association of Singapore to follow up on the issue.

It is the buyers' responsibility to exercise caution and read the terms and conditions before they sign up for any packages.

But there is a lack of protection for consumers when companies fold.

What recourse do consumers have to safeguard their interests in such situations? Are there any guidelines for retailers to adhere to in fulfilling contractual agreements?

Alan Chin

Source: https://www.straitstimes.com/forum/letters-in-print/consumers-who-pay-in-advance-lose-out-when-retailers-shut-down

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