About Regency Furniture

Background

Regency Furniture is a growing leader in home furnishings. With style and selections, as well as unbeatable prices, insures us to be on the cutting edge in the current market. Seven (7) stores conveniently located allow consumers the easy of access though out Maryland, DC and Northern Virginia area.

The furniture retailing industry includes about 20,000 companies. Staying competitive and unique is crucial. As technology and resources change, offering furniture that appeals to a particular type of customer and their budget along with on-time delivery, will better sales margins.

Regency Furniture sells living room, dining room, kitchen, office and bedroom furniture, along with mattress and accessories. Our consumers have the opportunity to take advantage of either store location pick up or delivery. Our first rate Delivery team offers a deluxe service that includes delivery, assembly, set-up and removal of packing materials. Extended services are also offered at each store location.

The profitability of Regency Furniture depends on merchandising and marketing. Major high profile sales events helps “brand” our company name and continued advertising will always be necessary to keep that name in front of the area customers when they are in the market for furniture. Keeping a satisfied customer base, represents consistent repeat business, this in turn, effectively minimizes our ever expanding advertising budget requirements.

A broad range of products, such as mattresses, sofas, office or bedroom furniture include both domestic and foreign from top manufactures which allows us to offer to a diverse audience of customers at all affordability levels.

We strive to maintain our edge with the aid of electronic merchandising through the internet as well. Although our website is presently being refurbished, the web proves to be a yet untapped bounty for visibility and recognition.

The present economy has proven that excellence in customer service will continue to further our goals toward increased profitability. Store operations involve sales, management, merchandising, inventory management, and credit financing. As a company, we strive to promote from with-in as attested by at least five internal promotions to senior management during our recent growth. These individuals represent many years of experience.

Many retailers have multiple stores fed by one or several regional warehouses, which in turn receive goods directly from multiple manufacturers. Typically, smaller stores are showroom galleries with little inventory of their own. Regency Furniture stores offer both, showroom with an attached warehouse which increases the volume of customers purchasing.

So far this year, Regency Furniture has open 2 additional locations in Fredericksburg and Alexandria, VA. Continuing this aggressive business plan sees us opening additional locations in the future.

SALES TERMS AND RULES

  1. Sales: All sales are final and non-returnable except as specifically stated herein. All sales must be paid in full before delivery or pickup.
    1. Returns: Once an invoice has been scheduled for delivery, the invoice items have been transferred from the warehouse to a store for pick-up, or the customer has taken possession of the merchandise, all approved returns will be charged a 30% restocking fee. A restocking fee will be charged for all returns, including returns due to a customer’s change in preference of color, size, if the item does not fit, or any other reason. There will be no refund of a pickup or delivery fee. After deducting the restocking fee and delivery fee, the customer shall be entitled to store credit for the remaining balance of the purchase price.
    2. Cancellation: A customer may cancel his/her order within seventy-two (72) hours of placing the order and receive a full refund of his/her deposit or store credit. All cancellations after the seventy-two (72) hour cancellation period has expired are subject to a cancellation charge in the amount of ten percent (10%) of the invoice amount. This seventy-two (72) hour window does not apply if the customer has picked up their merchandise or scheduled a delivery. In that case, the invoice will be treated as a return, and provisions of Section 1.a will apply.
    3. Floor Samples/Clearance: All floor samples and clearance items are AS-IS and final sales. Floor pieces must be paid in full and picked up or scheduled for delivery within 72 hours of purchase. Except for its gross negligence, Regency and its agents are not responsible for damages to floor samples and clearance items after the sale of such items, and take no responsibility for any damage caused during delivery.
    4. All special orders, factory-ordered merchandise and custom orders are final and are not subject to cancellation, exchange or refund, unless otherwise provided herein. The provisions of Section 1.a herein shall apply to the cancellation of all special orders, factory-ordered merchandise and custom orders.
    5. Payments made by personal check may require a waiting time of 10 business days before customer can take possession of the merchandise.
    6. All orders require at least a 50% down payment before being processed. If less than 50% is deposited on the sale, Regency Furniture makes no guarantees regarding any future availability of the product.
  2. Delivery: Signature upon delivery represents merchandise being received in good condition and by signing, customer releases Regency and its delivery service from any claim or damage to household personal properly. Any defective merchandise must be reported to our service department within 72 hours of delivery.
    1. Any merchandise left unscheduled for more than 2 weeks after becoming available for delivery shall be reallocated to common stock and treated as a cancellation hereunder. Regency Furniture is not responsible for delivery if incorrect contact information is submitted during the sale.
    2. Neither Company nor its delivery service shall be held responsible for failure to deliver if such failure is caused by inclement weather, traffic problems or any other circumstances beyond the control of the Company or its delivery service. The delivery shall be rescheduled promptly.
    3. If Regency fails to deliver the merchandise within two weeks of the Estimated Delivery Date shown on the front of this purchase agreement, you may (1) cancel the contract and receive a full refund or credit equal to your deposit, (2) modify the contract by selecting other merchandise, or (3) negotiate with Regency for another delivery date. However, Regency is not required to allow you to exercise your rights to a refund or new selection of merchandise if Regency cannot cancel the order with the manufacturer or supplier.
    4. Customers must be available to receive a scheduled delivery. A customer who cancels a scheduled delivery within 72-hours of the scheduled delivery, or is unavailable to receive the delivery shall be charged a redelivery fee, in an amount equal to the original delivery fee.
    5. In the event a customer refuses a delivery due to the customer’s change in preference for color, size, or preference, or the furniture does not fit, or for any other reasons, the provisions of Section 1.a above shall apply.
    6. By signing the delivery receipt, the customer releases Regency, its agents and contractors from any liability as a result of damage to Customer’s home and/or property
  3. Pickup: Customer must inspect all merchandise at time of pickup. Signature upon pickup represents merchandise being received in good condition and by signing, customer releases Regency and its employees from any claim or damage to the merchandise or customer’s vehicle. Regency employees are not responsible for loading merchandise on to customer’s vehicle. Regency shall not be responsible for loss or damage to customer’s vehicle or for any loss or damage to the merchandise after pickup. Regency is also not responsible for any missing or damaged personal effects during pickup. Customers are solely responsible for securing their vehicle during pickup.
  4. Charge backs and returned checks: There shall be a charge of $100.00 for any charge-back on a purchase applied to that credit card. Any returned checks will be subject to a charge of $35.00.
  5. Merchandise Variations: Due to the nature of wood, there may be slight variations in stain or grain of merchandise. Due to the nature of marble, variations in the veining of marble are normal and expected. Any returns because of the variations due to the nature of wood and marble will be treated as a return based on customer preference, and the provisions of Section 1.a above shall apply.
  6. Price-Holds: All price-holds are guarantees for the prices of the merchandise and require a special order. A Price-Hold is not a layaway agreement and does not guarantee that Regency will hold a particular item chosen by customer. Upon payment of a mandatory minimum deposit of 25% or the purchase price, including sales tax and delivery charges, Regency will hold the price on such Price-Hold merchandise for a period of 90-days, or until customer pays for the Price-Hold merchandise in full, whichever is sooner. Customer is in default whenever 15 days has lapsed from the scheduled date on which the customer failed to make a required payment, and when customer fails to pay the remaining balance due within 105 days (which includes a 15-day grace period) of the Price-Hold agreement. Upon customer default, Regency shall not be liable for the availability or honoring the Price Hold price of any merchandise. The Customer shall have the right to cancel a Price Hold agreement within seven days of the Price Hold agreement and receive a full refund on the deposit. After the one week cancellation period has expired the Customer shall have the right to cancel a Price Hold agreement and Regency shall charge a cancellation fee in the amount of ten percent (10%) of the layaway price or the total amount paid by the customer to the date of default, whichever is less.
  7. Unauthorized Terms and Errors: Any other terms and agreement not contained herein, whether oral or written are invalid unless expressly approved by management in writing and signed by both a Regency manager and Customer. Miscalculations and clerical errors in sales terms and prices are subject to review by management and may be adjusted accordingly within 90 days of discovering the error.
  8. Price Matching: If within 14 days of your purchase, Regency Furniture offers the same item you purchased for less, you are entitled the entire difference either as a refund or store credit. The Price Matching provisions shall not apply to sales of the following items: floor models, clearance items and discontinued items, and special orders.
  9. Refunds: If a refund is permitted, cash and check payments will be refunded by Company check within 21 business days. Credit card payments will be credited directly to that credit card only. Financed purchases will be credited to that account. Due to legal and contractual obligations, all credit card payments and financed payments must be refunded to the original form of payment, regardless of the status of customers account. No exceptions will be made. Customer shall also have the option of store credit.
  10. Warranties: Unless specified in contract or by Maryland law, Regency expressly disclaims all warranties, except the implied warranties of merchantability and fitness for a particular purpose. Regency supports manufacturers’ warranties, when approved by manufacturer. Additionally, third-party warranty coverage is available for purchase.
  11. Collections: Customer agrees to pay all fees and expenses incurred by Regency, including, but not limited to, attorneys’ fees and all costs relating to the collection of overdue balances.

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