In a majority of counties, there are laws that protect the rights of the consumers. These laws dictate the bare minimum of a refund and return policy that you have to abide by.
A well-written refund policy can boost your sales and increase profits, while an overly restrictive refund policy can scare potential customers away and cost you dearly.
Return and refund policy should typically address the following few points:
Since refund policy is a legal agreement, it can help an online business in instances when some of the customers claim their rights are not being respected. Let’s see exactly why you need a refund policy on your website.