Notice of Rescission – Federal Law

It is a requirement of federal law that any contract signed outside a business office or in your home, contain the language:

You, the buyer, may cancel this transaction at any time prior to midnight of the third business day after the date of this transaction. See the attached notice of cancellation form for an explanation of this right.

The code of Federal Regulations; Title 16, Chapter 1, Subchapter D, Part 429 is known as the Rule Concerning Cooling-Off Period For Sales Made At Home Or At Certain Other Locations (16 CFR 429.0). This regulation requires that the following introductory language be placed in immediate proximity to the space reserved in the contract for the signature of the buyer or on the front page of the receipt if a contract is not used. The language must be in 10 point bold type:

If the cancellation notice is not attached to the contract, the above sentence must be altered to reflect the correct location of the cancellation notice. (i.e. – replace the word “attached” in the last sentence with the word “accompanying”.)

“Warning” Do not sign any contract or authorization unless you are provided with specific paperwork forms, and thoroughly informed of your rights to cancel.

Rescission/Right to Cancel

Notice of Right to Cancel

Consumer Protection Laws


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