What is a website refund policy?
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Under a refund policy, a purchaser can opt to send the purchase in question back to the company from which it was purchased, and depending on the particular situation, receive either a full refund, partial refund, or store credit. In rare circumstances, it may make sense for the policy to clearly state a “no refunds or returns” policy.
What does a typical site refund policy entail?
Website refund policies often detail what sort of purchases can and cannot be refunded, contain time limits for the refund policy to be exercised, and the technical details of the returns process.
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1. Terms stating which products may be refunded and which may not, and language explaining why certain products (for instance, food that could spoil) may not be returned.
2. Time limits for using such policies, usually 30 to 90 days after a purchase
3. Information on cost estimates
4. Information on how refunds are to be paid out
5. Language that identifies under what conditions the company will cover the cost of shipping on returns.
Ultimately, these policies carefully take into account both a company’s need to shield itself but not alienate its client base, erecting a framework where online businesses can balance client service against any potential for losses because of fraudulent activities.
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Need help with your refund policy?
Does your company need a website refund policy or revisions to an existing policy? Internet Lawyer Mike Young has been helping prepare these and other important website legal documents (e.g. privacy policies, terms and conditions, etc.) for a wide variety of business clients since the mid-1990s.
To get help with your site’s policy, go ahead and set up a telephone consultation today.