To be effective, your refunds and returns policy needs to include a few issues. Which are they?

To be efficient, your refunds and returns policy needs to encompass three main aspects: ✓A time limit: this is typically relatively easy to determine. For services, the time limit is often shorter – your customer is going to know they're dissatisfied with their new haircut within a few days, if not on the spot. For products, a 30-day period to return is the bare minimum. E-commerce sites may offer even more extended periods to allow for plenty of shipping time. ✓A type of return, exchange, or refund: you may give people their money back, offer store credit, or also blend these options. For instance, many shops provide refunds with a receipt but only give store credit if customers don't have a receipt. Or you may offer store credit only for returns after a certain amount of time. If you run an e-commerce site, shipping e-tools help carry out the return process to avoid refunding customers’ money without actually getting the product back. ✓The circumstances under which a return, exchange, or refund are allowed: determine the reasons a customer can return or exchange a product or ask for a refund. That is conditioned to your kind of business. If you run a salon and a customer is unhappy with their haircut, you might give them a discount on the spot, not charge them at all, or give them a free fix. Calling you claiming to be displeased a month later is too far out to reasonably request a refund or a fix. If you run a restaurant, you can offer to exchange your customer's order if they try it and don't like it – but not if they've eaten most of the food on their plates and then decide they don't like it. And before you set a policy, have your attorney check it to make sure you're aligned with industry standards and reasonable regulations. TermsFeed generates a Return and Refund Policy in case you need one for your business. Watch the video below for more information: https://www.youtube.com/watch?v=F6EeZDaa2fM

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