Lay-Bye T&Cs

  1. The maximum term for a Lay-Bye purchase is 6 months.
  2. All payments made will be in US dollars and will be held by TV Sales & Home in a US dollar denominated Nostro account until the transaction is completed.
  3. It is better to pay equal instalments, but any payments will be accepted;
  4. Lay-Bye customers are welcome to make accelerated payments on their Lay-Bye accounts, and do not have to stick to any set term, as long as the payment period does not exceed 6 months.
  5. In order to open a Lay-Bye account the customer will need to pay a minimum deposit of 30% (in US Dollars) of the discounted indicative purchase price of what he wishes to buy, which would be expressed in US dollars. The higher the deposit that the customer pays the less he will have to pay off with his monthly instalments;
  6. No interest is payable on the credit balance of any Lay-Bye account, and all Lay-Bye purchases are interest free;
  7. All goods are available for purchase by Lay-Bye account;
  8. Goods purchased may not be collected or delivered until full payment has been made, including any delivery fee , if applicable;
  9. Goods will be available for collection or delivered to the customer within 48 hours of the final payment being made, subject to stock availability;
  10. We do not reserve the goods purchased on Lay-Bye accounts. In the vast majority of cases the relevant goods, or adequate substitutes, will be available for delivery to the customer on receipt of the final Lay-Bye payment but this may not always be the case.
  11. In the event that the goods purchased are out of stock or no longer available the customer may select alternative goods to the US Dollar value of the credit in his Lay-Bye account, subject to the discount price of that day, alternatively the customer may elect to be refunded in US Dollars to the value of the credit in his US Dollar Lay-Bye account;
  12. Should the customer choose to cancel his account, or the purchase price is not paid up within the maximum 3 month period, the customer will be refunded in US Dollars the value of the credit in his Lay-Bye account, less an administrative fee of 5%;
  13. TV Sales reserves the right to pay the USD refund via Nostro account or whatever currency is deemed legal tender at the time of making such refund. This may include RTGS $. Any conversion thereof will be calculated at the prevailing exchange rate applied by TV Sales & Home on the date on the refund.
  14. Lay-Bye payments can be paid in US dollar cash in Branch, or by way of US dollar denominated credit card, or by direct deposit into TV Sales & Home Nostro US dollar Bank Account.
  15. It is specifically recorded that payment of the initial deposit creating the Lay-Bye account does not constitute an agreement of sale between the parties. The agreement of sale is only concluded once the final payment of the purchase price has been made and an invoice has been raised.
  16. The price payable on all goods purchased on US Dollar Lay-Bye accounts is the US Dollar price prevailing at the time the account is created, which is fixed for the duration of the account.
  17. In the event that I default on any instalment, or fail to pay timeously any amount due in terms of this agreement, TV Sales & Home will have the right, at its sole and unfettered discretion, to convert my account to an RTGS Dollar account (or any other local currency that may have been introduced in its place). The conversion will be calculated at the prevailing exchange rate applied by TV Sales& Home on the date of conversion.
  18. In the event that any legislation, rule or law is introduced by the Zimbabwean Government prohibiting or otherwise affecting the operation of this account, TV Sales & Home will have the right, at its sole and unfettered discretion, to convert my account to an RTGS Dollar account (or any other local currency that may have been introduced in its place). The conversion will be calculated at the prevailing exchange rate applied by TV Sales & Home on the date of introduction of the said legislation, rule or law.