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:
The “Return and Refund Policy” Generator will create a custom policy for your ecommerce store.
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:
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.
You could add the Return and Refund Policy in your Terms and Conditions rather than having a separate agreement on returns.
Wikipedia defines “returning” as:
In retail, returning is the process of a customer taking previously purchased merchandise back to the retailer, and in turn, receiving a cash refund, exchange for another item (identical or different), or a store credit.
Most countries industry regulations require stores (even digital stores) to have this kind of policy.