Refund Policy
Declaration
The explanations provided on this page are general information and not detailed information on how to draft your own refund policy. This article is not intended to constitute legal advice or a recommendation on necessary actions, as we cannot know in advance the specific refund terms you wish to establish between your company and your customers. We recommend seeking legal advice for clarification and assistance in drafting your own refund policy.
Refund Policy: Key Aspects
That said, a refund policy is a legally binding document that establishes the legal relationship between you and your customers regarding refunds. Online businesses that sell products are sometimes required (under local laws and regulations) to display a product return and refund policy. In some jurisdictions, this is mandatory to comply with consumer protection laws. It could also help you avoid legal action from dissatisfied customers.
What to include in your refund policy
Generally, a refund policy often addresses issues such as how long it takes to request a refund, whether the refund will be full or partial, under what conditions the customer will receive a refund, and much more.