367.624 Contractor's duty to disclose cancellation rights and provide standard

351 words·~2 min read·/ky/367-624

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

form. Prior to entering into a real estate goods or services contract with any person, a contractor shall furnish the person with:

(1)The mailing address of the contractor through which written communication may

be received;

(2)The telephone number of the contractor and, if applicable, the contractor's facsimile

number and email address;

(3)A statement in at least ten

(10)point boldface type that states:

"You may cancel this contract at any time before midnight on the fifth business day

after you have received written notification from the insurer that all or any part of

the contracted goods, services, or goods and services is not a covered loss under the

property, casualty, or property and casualty insurance policy. This right to cancel is

in addition to any other rights of cancellation you may have under state or federal

law or regulation. See the attached Notice of Cancellation form for an explanation

of this right."; and

(4)A fully completed form in duplicate, under the conspicuous caption "NOTICE OF

CANCELLATION," and attached to but easily detachable from the contract, in at

least ten

(10)point boldface type that shall read as follows:

"NOTICE OF CANCELLATION

.......................................................

(enter date of transaction)

If you are notified by the insurer that all or any part of the contracted goods,

services, or goods and services is not a covered loss under the property, casualty, or

property and casualty insurance policy, you may cancel this contract without

penalty or monetary obligation before midnight of the fifth business day after you

have received the notice. To cancel this transaction, you may use any of the

following methods: mail or otherwise deliver a signed and dated copy of this

cancellation notice, or any other written notice of cancellation which you sign and

date, to (enter physical address of contractor), or email a notice of cancellation to

(enter email address of contractor), or transmit a notice of cancellation to (enter

facsimile number of contractor), not later than midnight of the fifth day after you

receive notice from the insurer.

I HEREBY CANCEL THIS TRANSACTION.

........................................................

(Buyer's Signature)"