Madison Avenue Couture offers a 30-day layaway plan for items priced at $1,500 to $3,000 and a 60-day layaway plan for items over $3,000.
To place an item on layaway, simply select the layaway option at checkout. On items under $3,000, we require 50% of the selling price at initial checkout and 50% at the end of the 30 days. On items in excess of $3,000, we require three equal payments totaling 1/3 of the total retail price, the first at the time of purchase, the second after 30 days and the final at the end of the 60-day period.
Any layaway can be completed early by paying in full. The purchased item will be sent on completion of the final payment.
Layaway Cancellation And Extension
If a layaway is cancelled after the initial payment, we will issue a store credit for the initial payment less 10% of the item's purchase price. On a 60-day layaway, if cancelled after the second payment, we will issue a store credit for the total paid less 25% of the item's purchase price.
Store credits must be used within one year from date of issuance.
Any extension of the layaway period is subject to our discretion. If we agree to extend the layaway period, we will charge a non-refundable fee of 10% on the purchase price of the item payable on the next payment date. All requests for extension must be received five business days before the next payment date.
Non-Payment Of Layaway Payment
If we do not receive notification that the layaway plan has been cancelled or a request for extension and we have not received the next installment, we will determine that the buyer is in default within 24 hours after the installment due date. Being in default, we are not obligated to refund any of the funds that were paid to date.
An exchange of the item on layaway is treated the same way as cancellations. Exchanges made after the first payment but before the second will be subject to at 10% fee; exchanges after the second payment will be subject to a 25% fee.