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Financial Token info. View American English definition of take a rain check on something. Change your default dictionary to American English. Show more.
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Show less. Using the thesaurus. Close What are red words? When advertising a sale, a retailer is required to honor the discounted price of a product even when supplies run out. Customers can request a rain check—usually in the form of a paper voucher —if they are unable to purchase the advertised item during the sale period.
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Most rain checks are valid for 30, 60, or 90 days, depending on the store. The rain check ensures customers have the option to return and buy the item at the discounted price when its inventory is eventually restocked. Retailers are not obliged to issue rain checks if the advertisement clearly states supplies are limited or only available at select locations. Rain checks also give retailers a competitive advantage.
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By issuing a rain check, a retailer can keep their customers from going to the competition, and ensure they will return. The store advertises the sale in its flyers and online. If you go to the store and find Yummy Wheat Cereal has sold out, you can ask the store for a rain check. When you return to the store, you simply present the cashier with the coupon at the checkout. One thing to note: Vendors generally don't issue rain checks for special promotions. So a special marked "Buy One, Get One Free" may not be applicable for a rain check after the stock is depleted.
After , rain checks became standard practice in grocery stores because the Federal Trade Commission FTC established the unavailability rule. This federal law entitles consumers to receive rain checks, substitute items of equal value, or alternative compensation equal to the advertised items or discount. The unavailability rule protects consumers from false or deceptive advertising by requiring grocery retailers to stock enough supplies to reasonably satisfy the anticipated demand for a sale.
The FTC established this law to prevent bait-and-switch sales—the practice of advertising bargain prices to attract heavy traffic while understocking sale items to encourage customers to buy more expensive products. Running out of inventory is not illegal, but a retailer may violate the law by repeatedly understocking sale items without informing the public that quantities are limited.
Individual states have their own consumer protection acts, which may expand the liability of retailers or subject a wider range of products to rain check laws. Some states limit the amount of time consumers have to redeem the rain check once they are notified of a restocked item. Retailers can limit supplies, for which rain checks are not granted.