All Layby Cancellations will occur a 25% (of full RRP) restocking fee. This covers storage, assembly, administration and the lack of availability to resell. If the 25% has not been made, you will be required to pay the difference to cancel your layby.
Example: You layby a $900 Bicycle which has a RRP of $1000but only make a $100 deposit. You will be required to pay the difference of $150 to cancel this transaction.
Our Layby Terms are 3 months, if the layby exceeds this time, we have the rights to cancel this resulting in a loss of payments against this layby. Laybys that cannot be fulfilled by Life of Bikes are exempt from the above.
These policies all meet the requirements of the Australia Competition & Consumer Commission.