Last Updated: March 15, 2026

Welcome to the Magnet E-Store Layby Plan. By initiating a layby payment with Magnet E-Store, you agree to comply with the following terms and conditions. Please read them carefully before starting a layby purchase.

1. Layby Payment Terms

1.1. The Magnet Layby Plan allows customers to pay for selected products over time without interest.

1.2. Customers may begin a layby with any initial payment, as there is no minimum deposit required.

1.3. Payments may be made in any amount and at any time, provided the full balance is settled within the allowed layby period.

1.4. The maximum layby payment period is five (5) months (150 days) from the date the first payment is made.

2. Price Lock Policy

2.1. The product price is locked at the time the layby is initiated.

2.2. Customers will not be affected by any price increases or decreases during the layby payment period.

3. Product Availability

3.1. Products placed on layby are subject to stock availability.

3.2. Magnet E-Store will make reasonable efforts to allocate the selected product to the customer’s layby order. However, supplier limitations, stock shortages, or product discontinuation may occur.

3.3. If the selected product becomes unavailable, Magnet E-Store may offer the customer:

  • A similar or equivalent product of equal or greater value, or
  • A full refund of all payments made.

4. Shipping & Collection

4.1. Products will only be prepared for shipping or collection once at least 90% of the total product price has been paid.

4.2. The remaining 10% balance must be paid before collection or delivery and within the agreed layby period.

4.3. Delivery timelines may vary depending on location, logistics, and stock availability.

5. Payment Inactivity

5.1. Customers are expected to make payments regularly during the layby period.

5.2. If no payment is made for sixty (60) consecutive days, Magnet E-Store reserves the right to:

  • Cancel the layby agreement.
  • Release the product allocation back into available stock.
  • Apply the cancellation policy outlined below.

6. Layby Cancellation

6.1. Customers may request to cancel their layby at any time.

6.2. In the event of cancellation:

  • A cancellation fee of up to 20% of the total product price may apply.
  • Any remaining balance after applicable fees may be refunded as store credit or through the original payment method at Magnet’s discretion.

7. Failure to Complete Payment

7.1. If the layby balance is not fully paid within the five (5) month payment period, Magnet E-Store reserves the right to cancel the layby agreement and apply the cancellation terms.

8. Fraud Prevention

8.1. Magnet E-Store reserves the right to request valid identification, payment verification, or additional information before processing any layby order or shipment.

8.2. Magnet may cancel any layby agreement if fraudulent activity or suspicious transactions are suspected.

9. General Conditions

9.1. All layby purchases remain subject to Magnet E-Store’s general Terms and Conditions, return policies, and warranty policies.

9.2. Magnet E-Store reserves the right to modify or update these Layby Terms and Conditions at any time without prior notice.

For any inquiries, please contact us on +263775020130 (Harare Office), +263778254767 (Bulawayo Office), email admin@magnet.co.zw, or visit our office at Club Chambers, Cnr Nelson Mandela & 3rd, Harare.

By initiating a layby payment with Magnet E-Store, you acknowledge that you have read, understood, and agreed to these Layby Terms and Conditions.