I'm not too sure where you get the 10% figure from.
Originally Posted by Jddt
Regulation 5.2 has this to say:
2) For purposes of section 14(3), a reasonable credit or charge as contemplated in section 14(4)(c) may not exceed a reasonable amount, taking into account-
a) the amount which the consumer is still liable for to the supplier up to the date of cancellation;
b) the value of the transaction up to cancellation;
c) the value of the goods which will remain in the possession of the consumer after cancellation;
d) the value of the goods that are returned to the supplier;
e) the duration of the consumer agreement as initially agreed;
f) losses suffered or benefits accrued by consumer as a result of the consumer entering into the consumer agreement;
g) the nature of the goods or services that were reserved or booked;
h) the length of notice of cancellation provided by the consumer;
i) the reasonable potential for the service provider, acting diligently, to find an alternative consumer between the time of receiving the cancellation notice and the time of the cancelled reservation; and
j) the general practice of the relevant industry.