What is a cancellation policy?
A Cancellation Policy is the document attached to a product by the suppliers with a set of rules like Refundable amount based on the cancellation time, few terms and conditions. The supplier has full rights to create one or more rules and a single rule can contain one or more steps of conditions that must be applied to the product.
How do I record the cancellation of a policy?
It is a standard practice to use a word document to record the entire cancellation policy for your business services. It is also a good idea to have a separate page which contains information such as the version of the cancellation policy, last updated date, department or individual responsible for the ownership of the policy document
What are some examples of cancellation and refund policies?
Below are six great examples of cancellation and refund policies: Due to limited seating, we request that you cancel at least 48 hours before a scheduled class. This gives us the opportunity to fill the class. Cancellations made 7 days or more in advance of the event date, will receive a 100% refund.