Archives
Categories
Tags
Importance of Signed Sales Draft
If you are a retail merchant conducting face to face transactions it is important that you always have your customer sign a Sales Draft. This can be the Sales Draft that prints from your credit card terminal or an old fashioned hard copy Sales Draft that is run through a manual imprinter.
To drive home this point I will tell a story about an actual situation that happened to a car rental agent. The transaction started out as normal. The car rental agent prepared the rental contract, which was signed by the customer. The car rental agent then swiped the credit card through his terminal and printed out the Sales Draft. However, the car rental agent forgot to have the customer sign the Sales Draft and handed the keys to the customer. As soon as the car rental agent remembered that he had forgotten to have the customer sign the Sales Draft he ran outside to get the customer to sign it. The customer was already in the car and responded with “I’ll sign it when I bring the car back” and all too quickly drove off the lot. The car rental agent felt he was “covered” because the customer signed the rental contract.
When the customer returned the car he refused to sign the Sales Draft. Shortly after the customer contacted his credit card company and requested the charges to be reversed, stating of course that he never signed a Sales Draft. The Credit Card Company contacted the Car Rental agent and asked for a copy of the Sales Draft. Of course, the Car Rental agent did not have a signed Sales Draft. Instead, he provided a copy of his signed rental contract, thinking this document “covered” him.
In the end the Credit Card Company found in favor of the customer and the credit card charges were credited back to the customer’s account. The signed rental contract was not an acceptable substitute for lacking a signed Sales Draft.
Lesson learned – For face to face retail transactions always get a signed Sales Draft.
Hi, Congratulations to the site owner for this marvelous work you’ve done. It has lots of useful and interesting data.