It is important that customers are presented with clear and transparent terms and conditions and guided through a seamless process. This approach embodies good business and customer-centric practices but it is also required by law. It is for this reason that Clyde’s brand needs to be associated with the sale throughout the purchasing process and why Clyde sends sales information to customers after the sale.
For regulation and compliance reasons you may not sell Clyde contracts without Clyde’s branding and verbiage.
When selling in-store, it is important for your floor managers to express that they are selling contracts in collaboration with Clyde. If you have any question about compliance, please reach out to firstname.lastname@example.org.
Service contracts are a regulated space and as such have terms specific to the laws guiding their regulation. The following terms are important for your managing team, and floor managers (if selling in-store) to understand:
Protection Plan: This references the contract between your customer and Clyde’s administrators/insurers that binds the insurer to repairing or replacing your customers items up to the cost of the item.
ADH: Accidental Damage from Handling
Limited Warranty: This is the warranty that comes with your products and is backed by your business or the manufacturer
Extended Warranty: An extended warranty “extends” your limited warranty
Extension: Extension contracts start at the end of the shortest period of your limited warranty
DOP: Date of purchase contracts start the date that the customer purchased the item
Term: This represents the length of the contract
Alert: You may not reference Clyde’s Protection Plans as “insurance” at any point on your website and marketing material.
Federal and state laws require that you not make any deceptive or misleading statements with regard to service contracts. Some areas to consider to avoid confusion for your customers:
Coverage: only advertise coverage options that are actually accessible to your customers. You can review this information in Clyde’s dashboard.
Use of Clyde’s Name: Clyde must always be associated with contract sales.
Refund and Cancellation Policies: If a customer requests a refund after 30 days of owning their product, they might be subject to a prorated refund of their Clyde protection plan.
CAN-SPAM: Follow CAN-SPAM requirements whenever sending marketing by email.