(1) Subject to subsection (2), the trader shall reimburse all payments, including any payment for delivery, received from a consumer who exercises the right to cancel a contract.

(2) If the consumer has expressly opted for a type of delivery costing more than the least expensive type of standard delivery offered by the trader, the trader is required to reimburse the consumer in respect of the payment for delivery only by an amount equivalent to the cost of the least expensive type of standard delivery offered by the trader.

(3) Subject to subsection (4), the trader shall reimburse the consumer's payment without undue delay and in any event not later than 14 days after the day on which the trader is informed in accordance with section 115 of the consumer's decision to cancel the contract.

(4) Where the cancellation relates to a sales contract, the trader may, unless the trader has offered to collect the goods, withhold the reimbursement until -

(a) the trader has received the goods back, or