Hong Kong businesses push back against ‘unfair’ proposal allowing customers to call off pricey deals
Buyers would be given seven days to change their mind on long-term contracts, but industry heads claim financial instability would ensue
Industry leaders have pushed back against an “unfair” proposal for a mandatory seven-day “cooling-off period” to allow Hong Kong shoppers signing up for pricey long-term contracts to call off their purchases unconditionally.
Claiming it would penalise the entire industry – not just those using high-pressure sales tactics – as well as bringing financial instability to businesses, bosses vowed to challenge the government’s plan.
The Consumer Council proposed the cooling-off period for five types of contract, including those signed with beauty salons, fitness centres and timeshare firms.
Deals worth more than HK$500 (US$64) would be included. The period would apply to beauty and fitness contracts that run at least six months or involve prepayment, while those for timeshares must be more than a year. In all cases, consumers would need to fill in a form to start the refund process.