Tero customers who never receive their composter can demand a refund from the credit card issuer that paid for their purchase if their contract is terminated remotely.
• Also Read – Tero bankruptcy: $6.9 million in debt
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The Office of Consumer Protection (OPC) issued the clarification on Monday, just days after Tero’s bankruptcy announcement. A Quebec company that wooed consumers with a small kitchen appliance capable of turning table waste into compost has sparked outrage on social networks by announcing it has ceased operations. Some customers have been waiting for their composter for almost two years.
On Tero’s Facebook page, customers indicated that they were able to receive reimbursements for amounts they overpaid, while others were denied by their credit card issuers.
The OPC notes that some card issuers exceed the time limits for complaints provided in their consumer agreement. However, they do not have the right to escape the Consumer Protection Act, which provides the right to a refund for goods not received.
“Consumers who are denied a chargeback request are invited to file a complaint against their financial institution with the OPC,” said OPC spokesman Charles Tanguay.
According to documents from trustee Lemieux Nolet, Tero’s claims could total $6.9 million.
More than 2000 customers have not received their device and they have placed orders from $500 to $1500.
Tero launched in 2019. Its Kickstarter crowdfunding campaign raised $1 million in just 24 hours. The company also received backing from National Bank and EXFO founder Germaine Lamonde.