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Layaway Policy

 

 

Layaway Policy
At Kitchen Craft Texas Style (KCTS) we pride ourselves on our free Layaway program and with this program we have helped many families get this truly wonderful cookware.  However, there are a few rules that we must abide by.

12 Month Layaway Price Guarantee - KCTS will absorb the difference on the Layaway when cookware prices go up for 12 consecutive months from the start of your Layaway provided you have made all payments on time and without changes or interruptions. This means that if during your Layaway period prices are raised, your Layaway price will not change for the first 12 consecutive months provided you have made all payments on time and without changes or interruptions. If you pay off your Layaway within 12 consecutive months you will not experience any price change. After 12 consecutive months and if the cookware prices have changed, your total cost for the cookware will change.  If you have a 24 month Layaway, you can still pay off the Layaway within 12 consecutive months to take advantage of the KCTS 12 Month Layaway Price Guarantee provided you have made all payments on time and without changes or interruptions. Remember, KCTS has no early payoff fees.
Prices for cookware may change at any time without notification.
Please note that if Set contents change (pieces are added to or removed from a Set) KCTS cannot guarantee Set prices.  When such an event occurs all Price Guarantees are null and void and Set costs automatically change to the it's current amount. Your monthly payment amount will also automatically adjust to accommodate this type of change.
This is extremely rare but when it happens it is out of our control.

Layaway Billed Amount - We know that things change and you have the choice of changing how much we bill you each month.  Each month you may change one or both of these options: Change the amount we bill you. Change the Term of your Layaway. You may change these options both up or down. There is no fee for making a change but each change has to be paid before you are eligible for another change.  All Layaway Auto Drafts will be processed on the 15th of each month.
For example: Let's say KCTS normally bills you $150 a month and you want to change how much we bill you to $200 a month.  On your next billing date KCTS will send you an Invoice for $200.  You'll have to pay the $200 invoice before you are eligible to make another change.  You may lower or raise your monthly payments by adjusting your Layaway Term. 
For example: Changing your Layaway Term from 12 months to 18 months. Remember, at least one payment after a change has to be paid before you are eligible for another change. 
Making a billing change will cancel the KCTS 12 Month Layaway Price Guarantee offer to you.

The lowest monthly billing amount your Layaway can be is by taking the remainder of what you owe on the Layaway and dividing it by the difference of how many Invoices you did pay and 24 months.  
For example: Let's say you've paid your normal Invoices for 7 months and you need to lower your Invoice amount as much as you can.  KCTS can take 24 minus 7 (which equals 17) and divide it by the remainder amount you owe on your Layaway. 
For example: Let's say your remainder on your Layaway is $1,000; your Invoices can be 1000 divided by 17 (which equals $58.82).
Please note that 24 months is the maximum Layaway Term offered by KCTS and that the KCTS 12 Month Layaway Price Guarantee applies for the first 12 months only.

Maximum Layaway Term
As stated above, 24 months is the maximum Layaway term KCTS can offer.
That being said, there are times when issues arise and you may need to adjust the amount you pay on your Layaway Invoice.
We are very accommodating here at KCTS and are always willing to work with you.
Since 24 months is the maximum Layaway term we offer, any balance will be due in full no later than the 24th month.
For example: Let's say your normal Layaway Invoice amount is 163.08 each month for 24 months but there was a reason for you to adjust your payment to $80 a month.
You have paid $163.08 a month for 5 months totaling $815.40
The total price for the cookware is $3,913.92
You have paid $80.00 for 18 months totaling $1,440.00
If you add $815.40 and $1440.00 you get $2,255.40
We subtract what you have paid from your total cost of the cookware and on the 24th month will bill you for the remainder which in this example is $1,658.52
Simply said, your total amount for the cookware must be paid in full no later than the 24th month.

Cancellation of your Layaway - You may cancel your Layaway at anytime; however, any and all money paid into your Layaway MUST be used to purchase products of equal or lesser value from KCTS. No remainder of money will be refunded so you are encouraged to use it all.
For example: If you paid $1,000 (including your deposit) and you cancel your Layaway you will need to select Sets or Pieces of cookware of equal or lesser value as your Layaway purchase. 
As stated above, you are encouraged to use all of the money that you have paid into the Layaway of equal or lesser value because no remainder of the money will be sent back to you.
For example: If you paid $1,000 (including your deposit) and you cancel your Layaway and elect to purchase a $200 Piece of cookware, you will NOT receive the $800 remainder and all remaining monies will be forfeited to KCTS.
You are also allowed to add money to the Layaway to reach a better value of cookware to receive.
For example: If you have paid an amount of money into the Layaway, but are a few dollars short of receiving the best value, you may add those few dollars to the Layaway to receive the best value of cookware.
To cancel your Layaway Contact Us. Then we will begin the dialogue of getting you the best value of cookware you can get.

Keeping in Contact with KCTS - This is very important because as we know things can change with you, keeping KCTS informed of your situations is key to not loosing the money you've paid on your Layaway. 
This means that if you don't pay 4 consecutive Invoices and you don't let KCTS know of your situation, your Layaway may be suspended.  If your Layaway gets suspended it will be up to you to contact KCTS to resume your Layaway.  If 4 consecutive Invoices are not paid and 12 consecutive months pass from the start of your Layaway and we don't hear from you during the time you are not making payments, all monies paid into your Layaway will be forfeited (it is very important to keep KCTS informed because even if you only have 2 payments left to complete your Layaway and you stop paying your Invoices, KCTS will continue sending you Invoices but when 4 consecutive Invoices are not paid and 12 consecutive months pass from the start of your Layaway Term and you have not contacted KCTS of your situation, all monies paid on your Layaway will be forfeited). 
This has never happened, but this is one of the rules that we have to abide by.

Terms and conditions of this Layaway Policy can change at any time without notice.
Set contents of any Layaway can change at any time without notice.

 


 

 

 

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