-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 f1xuyHrmzOvaboNHIYq7/Q==

<SEC-DOCUMENT>0000950172-03-003264.txt : 20031110
<SEC-HEADER>0000950172-03-003264.hdr.sgml : 20031110
<ACCEPTANCE-DATETIME>20031110111933
ACCESSION NUMBER:		0000950172-03-003264
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20031107
FILED AS OF DATE:		20031110

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			CARDONNE RAYMOND A JR
		CENTRAL INDEX KEY:			0001237795

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12776
		FILM NUMBER:		03987170

	BUSINESS ADDRESS:	
		STREET 1:		REFAC
		STREET 2:		ONE BRIDGE PLAZA
		CITY:			FORT LEE
		STATE:			NJ
		ZIP:			07024-7102

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			REFAC
		CENTRAL INDEX KEY:			0000082788
		STANDARD INDUSTRIAL CLASSIFICATION:	PATENT OWNERS & LESSORS [6794]
		IRS NUMBER:				131681234
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		ONE BRIDGE PLAZA
		STREET 2:		SUITE 605
		CITY:			FORT LEE
		STATE:			NJ
		ZIP:			07024-7102
		BUSINESS PHONE:		2015850600

	MAIL ADDRESS:	
		STREET 1:		ONE BRIDGE PLAZA
		STREET 2:		SUITE 605
		CITY:			FORT LEE
		STATE:			NJ
		ZIP:			07024-7102

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	REFAC TECHNOLOGY DEVELOPMENT CORP
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	RESOURCES & FACILITIES CORP
		DATE OF NAME CHANGE:	19740509

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	REFAC INC
		DATE OF NAME CHANGE:	19720628
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>primary_doc.xml
<DESCRIPTION>PRIMARY DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>

<ownershipDocument>

    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2003-11-07</periodOfReport>


    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000082788</issuerCik>
        <issuerName>REFAC</issuerName>
        <issuerTradingSymbol>(AMEX:REF)</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001237795</rptOwnerCik>
            <rptOwnerName>CARDONNE RAYMOND A JR</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>ONE BRIDGE PLAZA</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 605</rptOwnerStreet2>
            <rptOwnerCity>FORT LEE</rptOwnerCity>
            <rptOwnerState>NJ</rptOwnerState>
            <rptOwnerZipCode>07024</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>V.P. &amp; Chief Financial Officer</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>

        <derivativeTransaction>
            <securityTitle>
                <value>Options to acquire common stock</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>5.02</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2003-11-07</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness>
                <value></value>
            </transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>5000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F1"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2003-11-07</value>
            </exerciseDate>
            <expirationDate>
                <value>2008-11-07</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>5000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>57500</value>
                    <footnoteId id="F2"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>

        <derivativeTransaction>
            <securityTitle>
                <value>Options to acquire common stock</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>5.02</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2003-11-07</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness>
                <value></value>
            </transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>5000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F1"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2004-11-07</value>
            </exerciseDate>
            <expirationDate>
                <value>2008-11-07</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>5000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>57500</value>
                    <footnoteId id="F2"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>

        <derivativeTransaction>
            <securityTitle>
                <value>Options to acquire common stock</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>5.02</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2003-11-07</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness>
                <value></value>
            </transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>5000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F1"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2005-11-07</value>
            </exerciseDate>
            <expirationDate>
                <value>2008-11-07</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>5000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>57500</value>
                    <footnoteId id="F2"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>

    </derivativeTable>

    <footnotes>
        <footnote id="F1">Mr. Cardonne received from Refac 15,000 options to acquire shares of common stock pursuant to the Amended and Restated Employment Agreement between Mr. Cardonne and Refac, dated as of November 7, 2003.</footnote>
        <footnote id="F2">Pursuant to the Agreement and Plan of Merger among Refac, Palisade Concentrated Equity Partnership, L.P.(&quot;Palisade&quot;) and a wholly-owned subsidiary of Palisade (the &quot;Merger Agreement&quot;), dated as of August 19, 2002, Mr. Cardonne will acquire 0.2 shares of Refac common stock, $3.60 in cash and the Payment Right (as defined in the Merger Agreement) per option upon exercise of 42,500 of such options.  With respect to the 15,000 options granted on November 7, 2003, Mr. Cardonne will acquire one share of Refac common stock per option exercised.</footnote>
    </footnotes>


    <ownerSignature>
        <signatureName>/s/ Raymond A. Cardonne Jr.</signatureName>
        <signatureDate>2003-11-07</signatureDate>
    </ownerSignature>

</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----