Can cancel contracts under the Act – Condo for rent in Singapore
The Consumer Protection (Fair Trading) (Cancellation of Contracts) Regulations allow for cancellation of time share related and direct sales contracts within a 5-day cancellation period (excluding Sat, Sun and public holidays). The cancellation period is specifically targeted at situations where the consumer is subjected to high-pressure sale tactics. During the cancellation period, consumers should review their decision and, if they decide to cancel the contract, give the trader notice of cancellation in the form of a notice of cancellation of contract.Condo for rent in Singapore.
Direct sales contracts are essentially contracts entered into during an unsolicited visit.
In real estate business, a good example of a direct sales contract is that of an exclusive agreement signed by an owner and the estate agent. It is a common practice for salespersons to visit homes through door to door canvassing or after telemarketing (which are classified as unsolicited visits by the Act) to seek out owners who may be interested to sell their properties. In the enthusiasm to get an exclusive agreement signed, the salesperson may have applied high-pressure sales tactics. In such a case, the owner has the right to terminate the exclusive agreement within 5 working days
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