All service contracts issued or sold in this State shall contain the following disclosures written in clear and understandable language.

1. (1) the name and address of the service contract provider;
2. (2) the total consideration for the service contract paid by the service contract holder;
3. (3) the conditions and procedures for obtaining service under the service contract, including the name, address, and local or toll-free telephone number of any person from whom approval is required before covered repairs may be commenced;
4. (4) the existence and amount of a deductible, if any;
5. (5) merchandise and services to be provided and any limitations, exceptions, or exclusions;
6. (6) the terms, conditions, and restrictions governing transferability of the service contract, if any;
7. (7) the provisions governing cancellation and refunds in accordance with Section 35 of this Act; and
8. (8) whether or not the service contract covers failure resulting from normal wear and tear.

(Source: P.A. 90-711, eff. 8-7-98.)