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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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<SEC-DOCUMENT>0001237795-05-000004.txt : 20050406
<SEC-HEADER>0001237795-05-000004.hdr.sgml : 20050406
<ACCEPTANCE-DATETIME>20050406165808
ACCESSION NUMBER:		0001237795-05-000004
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20050401
FILED AS OF DATE:		20050406
DATE AS OF CHANGE:		20050406

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 550
		CITY:			FORT LEE
		STATE:			NJ
		ZIP:			07024-7102
		BUSINESS PHONE:		2015850600

	MAIL ADDRESS:	
		STREET 1:		ONE BRIDGE PLAZA
		STREET 2:		SUITE 550
		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

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:		05737451

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		201-592-4415

	MAIL ADDRESS:	
		STREET 1:		REFAC
		STREET 2:		ONE BRIDGE PLAZA
		CITY:			FORT LEE
		STATE:			NJ
		ZIP:			07024-7102
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>primary_doc.xml
<DESCRIPTION>PRIMARY DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2005-04-01</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>REFAC</rptOwnerStreet1>
            <rptOwnerStreet2>ONE BRIDGE PLAZA</rptOwnerStreet2>
            <rptOwnerCity>FORT LEE</rptOwnerCity>
            <rptOwnerState>NJ</rptOwnerState>
            <rptOwnerZipCode>07024-7102</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>Option to acquire common stock</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>4.12</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2005-04-01</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness>
                <value></value>
            </transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>50000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <value>2015-04-01</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>50000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>107500</value>
                    <footnoteId id="F2"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">One-third of the options are vested and exercisable as of 4/1/05.  The remaining options vest and become exercisable with respect to an additional one-third (1/3) of the total grant on each of the first 2 anniversaries of the date of grant, provided that Mr. Cardonne is employed by REFAC on such date.  In the event that his employment with REFAC is terminated (i) by him for Good Reason, (ii) by REFAC without Cause, (iii) due to his death or disability, or (iv) on or after the expiration of the term of the Employment Agreement, then the option shall immediately become exercisable as to all shares and shall remain exercisable for the remainder of the term of the option; provided that in the event of a termination for Good Reason solely as a result of a Change in Control, the option shall remain exercisable for a period of one year following the date of such termination.</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 balance of 65,000 of such options, Mr. Cardonne will acquire one share of REFAC common stock per option exercised.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Raymond A. Cardonne, Jr.</signatureName>
        <signatureDate>2005-04-06</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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