Refund policy
Disclaimer
The explanations and information provided on this page are solely for general guidance in drafting your own refund policy. This text does not constitute legal advice or a recommendation for action, as we cannot know in advance what the specific refund policy to be between your company and its customers will be. We recommend seeking legal counsel to gain a comprehensive understanding of the subject matter and to develop your own refund policy.
Refund policies – The basics
From this perspective, refund policies are a legally binding document that establishes the legal relationship between a company and its customers regarding how and whether a refund will be granted. Online retailers selling products are sometimes required (depending on local laws and regulations) to make their product return and refund policies publicly available. In some jurisdictions, this is necessary to ensure compliance with consumer protection laws. Furthermore, these policies can help defend against legal claims from customers who are dissatisfied with the products they have purchased.
What should be included in the refund policy?
In general, refund policies address the following issues: the deadline for requesting a refund; whether a refund is partial or full; under what conditions customers receive a refund, and much more.