Refund Policy
Disclaimer
The explanations provided on this page are general information and not detailed information on how to write your own refund policy. This article is not intended to be legal advice or a recommendation on what action to take, as we cannot know in advance what specific refund terms you wish to establish between your business and your customers. We recommend that you seek legal advice for clarification and assistance in creating your refund policy.
Refund Policy: Key Aspects
That said, a refund policy is a legally binding document that is intended to establish the legal relationship between you and your customers on how they can be refunded. Online businesses that sell products are sometimes required (by local laws and regulations) to display a product return and refund policy. In some jurisdictions, this is required to comply with consumer protection laws. It may also help you avoid lawsuits from customers who are dissatisfied with the products they purchased.
What to include in your refund policy
In general, a refund policy often covers such issues as: the time period to request a refund, whether the refund will be full or partial, under what conditions the customer will receive a refund, and much more.