Deposit reclaim

woksmuggler64

I recently looked into buying solar panels from a reputable company and paid them a holding deposit. Due to various issues - including the cut in feed in tariff - I decided not to pursue the panels. The company have agreed to return the deposit "in a few weeks". Is there a set time in which the company has to return the deposit and should any accruement of interest on the deposit be kept by the company or returned to me?

Any help will be gratefully received.

pcombo

You should thank your self lucky your even getting the deposit back, Never mind complaining how long it will take them.

But I am sureeeeeeeee someone will be along to say im posting rubbish again......

somethingcorporate

pcombo wrote: »

You should thank your self lucky your even getting the deposit back, Never mind complaining how long it will take them.

But I am sureeeeeeeee someone will be along to say im posting rubbish again......

You're posting rubbish again(!) . If you read the FAQs deposits are only retainable to cover actual losses and if it was punitive the company would not be able to retain.

OP, I don't think there is any set time. Keep chasing them, the squeaky wheel gets the oil.

InsideInsurance

Ultimately check the terms and conditions you signed up to.

I would count yourself luck you are getting the deposit back without a major fight. Even if the law does state retaining it after suffering no losses would be punitive that doesn't stop a large proportion of companies stating deposits are non-refundable/ non-transferable.

No interest would be payable to you unless stated in the terms or if you issued in which case the court would decide when would have been a reasonable timeframe for the refund to have been made and only apply it after that date..

somethingcorporate

InsideInsurance wrote: »

I would count yourself luck you are getting the deposit back without a major fight. Even if the law does state retaining it after suffering no losses would be punitive that doesn't stop a large proportion of companies stating deposits are non-refundable/ non-transferable.

You could say the same about DSR / restocking fees etc. A large proportion of companies are totally oblivious about their legal duties towards a customer. Ultimately we can only point them in the direction of their rights.

I agree it could be a fight to get a deposit repaid, exactly the same as it can be difficult to get a company to adhere to DSRs.

Hintza

In a case like this where regulations have (potentially) changed then you could argue that the suppliers losses might be higher than the original deposit and they could pursue the OP for those losses. (I'm not saying this is the case but it is feasible)

woksmuggler64

Thanks to all for their posts. Wasn't really expecting to get much back from the company so the refund is a bonus. It is a little vague when they say the refund will be in "a few weeks" though.

Flyboy152

Hintza wrote: »

In a case like this where regulations have (potentially) changed then you could argue that the suppliers losses might be higher than the original deposit and they could pursue the OP for those losses. (I'm not saying this is the case but it is feasible)

That would wholly depend on what is contained in the contract that the consumer as with the seller.

Flyboy152

woksmuggler64 wrote: »

Thanks to all for their posts. Wasn't really expecting to get much back from the company so the refund is a bonus. It is a little vague when they say the refund will be in "a few weeks" though.

How much was the deposit and how did you pay it?