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  1. Point in time
    2020-01-13

PROD 5.2 Deferred opt-in for extended warranties

PROD 5.2.1R
  1. (1)

    1A firm must:

    1. (a)

      not conclude the sale of an extended warranty; and

    2. (b)

      ensure that no other person to whom the firm has referred the customer concludes the sale of an extended warranty;

until at least two clear days have passed since the required information was provided to the customer (PROD 5.1.1R).

  1. (2)

    The period in (1) is one clear day after providing the information if the customer:

    1. (a)

      initiates the conclusion of the sale of the extended warranty;

    2. (b)

      consents to the conclusion of the sale of the extended warranty earlier than provided for in (1); and

    3. (c)

      confirms that they understand the restriction in (1).

PROD 5.2.2G

1For example, if a firm provided the required information to the customer on Monday, it would not (absent the customer’s consent) be able to conclude the sale of the extended warranty until Thursday.

PROD 5.2.3G

1Before the conclusion of the sale of an extended warranty, a firm should have regard to the information needs of its customers and consider whether it would be in the customer’s interest to receive the information in PROD 5.1.1R again, for example if a long time has passed between the provision of the information and the conclusion of the sale.