Credit Card Glossary: Terms and Definitions
Mail or Telephone Order Merchandise Rule
The FTC rule, also referred to as the 30-day rule, requires merchants who are shipping a product to a buyer do so within a reasonable period of time. If the merchant cannot ship within 30 days (or within the period of time stated), the customer’s consent must be sought to allow for the delay. If no consent is obtained or if the customer does not consent to the delay, the merchant is required to refund the customer’s money in a prompt manner for the unshipped merchandise.