NAC645.675. Agreements for advance fees.

     1. Each agreement for an advance fee used in Nevada must:

     (a) Be in writing;

     (b) Contain a definite and complete description of the services to be rendered;

     (c) Specify the total amount of the fee involved and clearly state when the fee is due;

     (d) Not imply or purport to guarantee that the real property involved will be purchased, sold, rented, leased or exchanged as a result of the services rendered;

     (e) Specify the date of full performance of the services contracted for;

     (f) Not imply or purport to represent to purchasers and prospective purchasers of the advertising or promotional services offered that a buyer for the property is immediately or soon available; and

     (g) Provide that a full refund will be made to the customer if the services for which the advance fee is being received are not substantially or materially provided to the customer.

     2. Any oral representation or promise made to a purchaser or a prospective purchaser of the advertising and promotional services offered pursuant to an agreement for an advance fee to induce the purchaser or prospective purchaser of the services to sign the agreement is incorporated into the agreement. The agreement must not relieve or exempt the vendor of the services from any oral representation or promise incorporated into the agreement.

     [Real Estate Adv. Comm’n, § IX subsecs. 1 & 2, eff. 10-31-75]—(NAC A by Real Estate Comm’n by R031-04, 11-30-2004)