In a future performance contract you either do not receive the goods or services immediately, or you don’t pay in full upfront. This generalization does not apply to contracts for under $50. In addition to the general requirements for contracts (listed in Section 19), future performance contracts must include:

• The supply date
• The date on which the supply of the goods or services will be complete
• The amount of each of the periodic payments.

You should receive a copy of the contract within 15 days it is entered into. If the contract does not contain the required contents, you have up to a year to cancel the contract by giving notice to the supplier.

Please note that there are other provisions in the legislation with respect to cancellation, so it is important to review all the legislation that pertains to future performance contracts to see what fits your particular situation.