What is a Return/Refund Policy
A Return and Refund Policy is the agreement where you inform customers about your policies regarding returns and refunds.
It usually includes the following pieces of information:
- How many days they have to return a product
- How will they receive the refund (credit or replacement)
- If you offer refunds for digital products or in-app purchases
- Who pays for shipping to return the product
- And so on
Why use a Return/Refund Policy
Most e-commerce stores should have a Return or Refund Policy. This includes retail stores as well.
Customers must be informed about their rights to refunds. This “policy” is the page where businesses inform customers about their policy on return and refunds.
The Policy is part of the 3 legal agreements your e-commerce business should have:
- The “Return and Refund Policy”. Use this agreement to inform users about your policy on returns and refunds.
Use this agreement to inform users about your privacy practices and what kind of personal data you collect from users.
If you collect any kind of personal data from your users (e.g. email addresses, first and last names), you’re required by law to have this agreement.
The “Terms and Conditions” agreement.
This is optional but recommended. Use this agreement to set the rules and guidelines for users when they register an account with you.
You could add the Return and Refund Policy in your Terms and Conditions rather than having a separate agreement on returns.