Guides / Jewelry layaway policy template (copy and edit)

Jewelry layaway policy template (copy and edit)

By Emre, Pulad Labs · Updated 2026-10-16

Layaway sells jewelry that customers could not buy outright, but only works if both sides know the rules. Copy the template below, replace the [brackets] with your terms, and have the customer sign a copy.

Copy the policy text

Layaway agreement for [SHOP NAME]

1. How it works. We set aside the item you choose in our store while you pay for it in installments. You receive a numbered receipt for every payment.

2. Deposit. A deposit of [20]% of the item price (including tax) is due when the layaway starts.

3. Payments. The balance is paid in [equal] installments at least every [30] days. The final payment is due within [90] days of the start date. We can extend this once, in writing, if you ask before the due date.

4. Pickup. The item is released only when the full price is paid. Please bring your layaway receipt and a photo ID.

5. Price. The price is fixed on the day the layaway starts. Items made of gold or other precious metals keep the agreed price; we do not re-price them during the layaway.

6. Cancellation by you. You may cancel at any time. We refund all payments you made minus a cancellation fee of [10]% of the item price (never more than the amount you paid), within [14] days.

7. Missed payments. If a payment is more than [14] days late and we cannot reach you, we will contact you by phone or message at the number you gave us. If the layaway is still not resumed after [30] more days, we may cancel it, return the item to stock and refund your payments minus the cancellation fee in point 6.

8. Care. We keep the item safe in our store and insure it against loss while it is in layaway. Sizing and engraving may be started only after the item is fully paid, unless we agree otherwise in writing.

9. Changes. Any change to this agreement must be in writing and signed by both of us.

Customer: ______________________   Phone: ____________   Date: __________
Item: __________________________   Price: ____________   Deposit: ________
Signature (customer): __________   Signature (shop): ____________

Template only, not legal advice. Layaway fees, refunds and notice periods are regulated in some places. Check yours.

Choices worth thinking about

• Deposit size. A bigger deposit means fewer abandoned layaways. 20 percent is a common starting point.
• Price lock on gold. Gold prices move. Decide whether the price is fixed for the whole layaway (simpler, riskier for you) and say so.
• Cancellation fee. Keep it small and written. A fee you did not state cannot be charged fairly.
• Insurance and storage. The item sits in your safe. Make sure your policy covers goods you hold for customers.
• Receipts. Give a numbered receipt for every payment and keep a copy. Disputes are about who paid what and when.

Tracking layaway without chasing

The hard part is not the contract but remembering who owes what and when to remind them. A balance sheet by customer works at first; at some point you want reminders sent in one tap. Our jewelry store software guide covers what to look for.

Frequently asked questions