Easy way to create a Refund Policy
Frequently asked questions
We will try to answer all questions in the easiest way possible
What is a refund & return policy?
A refund policy, also called a return policy, explains to customers how your business handles returns or refunds for the products you sell.
While there is no legal requirement to offer refunds or returns, most retail companies offer some form of them to create fairness (such as for defective products) and establish trust between buyers and sellers.
A refund policy can usually be found on a company's website and on a purchase receipt.
What is the purpose of a refund policy for online stores?
This allows for fairness in situations where a product may be defective and helps to establish trust between the seller and buyer.
Customers may consider a company's refund policy when deciding whether or not to shop at their store.
What should the refund policy include?
The refund policy should address the following:
- How much time does the customer have to return the item?
- In what condition can items be returned?
- Will a refund be given and, if so, how much and in what form (e.g. store credit or refund)?
- How do exchanges work?
- Are returns or refunds accepted for sale items?
- Who pays for shipping?
What is the cost of using the refund policy generator?
Termzy offers a free refund policy generator tool to any website at no cost.
Where to display the return and refund policy?
It is important to ensure that your return and refund policy is prominently displayed on your website so that customers can easily find it before making a purchase.
This policy should be clear and concise, and can be listed in various locations such as the footer of your website, the FAQ page, product page, cart, checkout, etc.
You may also choose to include this policy in your Terms and Conditions rather than having a separate agreement.