Layaway


Also found in: Dictionary, Thesaurus, Idioms, Wikipedia.

Layaway

An agreement between a retail seller and a consumer that provides that the seller will retain designated consumer goods for sale to the consumer at a specified price on a future date, if the consumer deposits with the seller an agreed upon sum of money.

References in periodicals archive ?
As a final point, for those companies that have recognized gift certificates and layaways as income, a tax deduction should be available when escheat payments are made to a particular state.
eLayaway makes it easy to launch a layaway program by offering teams the ability to:
Diane Brewer of Mendon told WFXT-TV that she was elated the woman paid off her layaway bill at the Bellingham store.
Making the list available now gives parents the chance to get toys early and take advantage of layaway with no gimmicks.
The problem, however, is that most layaway plans come with interest.
Layaway is a payment method that allows customers to pay for their purchases in installments and receive the item once it has been completely paid for.
There are no overall sales figures available on annual layaway sales.
Pare, store manager at the Rochester Kmart, the layaway program has been a windfall.
Layaway plans gave consumers incentive to pay off their purchases or they'd risk losing a portion of what they'd already paid.
Avoid store payment plans that charge interest or finance charges for purchases on layaway.
OTCBB: ELAY) ("eLayaway" or the "Company"), has today announced the release of a new, customizable layaway payment plugin for eCommerce merchants using the Magento platform.
STRETCHING YOUR BUDGET WITH LAYAWAY: Toys R Us, which has previously offered layaway in its stores, just introduced the pay-over-time service online at Toysrus.