If you haven't authorized them to replace them ,ask for a refund.
If you're already having it done,ask them what they'll do if it happens again.
They're already working on it and the SA's told me there's a three year warranty for the new strap. My only concern is what happens if the other strap starts peeling and cracking? They'll probably want to replace that one too instead of giving me a new bag or a refund. I really don't want a new DE NF since that one might crack too. I'm starting to regret buying the bag in the first place and I only had it seven months.