NJ A551

Extends the contract cancellation period for home improvement contracts from 3 business days to 5 business days for consumers aged 60 or older and consumers with intellectual disabilities

Creates a new 3-business-day cancellation right for consumers aged 60 or older or with intellectual disabilities on contracts for goods priced at $500 or more

Requires full refund of all payments within 30 days of receiving cancellation notice, and cancellation of any associated credit or loan agreements without penalty

Mandates return of any delivered goods within 30 days of contract cancellation

Allows consumers to waive the cancellation period for emergency restoration services (water extraction, fire damage cleanup, mold remediation) by signing an emergency authorization form with a cost estimate