Return & Refund Policy Template
Our Return & Refund Policy template lets you get started with a Return and Refund Policy agreement. This template is free to download and use.
According to a TrueShip study, over 60% of customers review a Return and Refund Policy before they make a purchasing decision.
It’s the single most important agreement your ecommerce store needs to have as it can affect your retention rate.
What is a Return and 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 and Refund Policy
Most ecommerce 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 ecommerce business should have:
- The Return and Refund Policy – Use this agreement to inform users about your policy on returns and refunds.
- The “Privacy Policy” agreement – This is required by law.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.
What to include in Return/Refund Policy
Your Return Policy or Refund Policy should include at least the following sections:
- The numbers of days a customer can notify you for wanting to return an item after they received it
- What kind of refund you will give to the customer after the item is returned: another similar product, a store credit, etc.
- Who will pay for the return shipping
If you sell digital products, the Policy should include the following sections:
- If you offer refunds on digital purchases
- If you offer refunds in limited cases, e.g. download link wasn’t working
The best Policy you can have is the simplest one. Here’s what a policy based on the above tips will look like:
If you are not 100% satisfied with your purchase, you can return the product and get a full refund or exchange the product for another one, be it similar or not.
You can return a product for up to 30 days from the date you purchased it.
Any product you return must be in the same condition you received it and in the original packaging. Please keep the receipt.
- Customers have up to 30 days to ask for a refund
- A Return Merchandise Authorization (RMA) must be requested
- The serial number of the Pencil must be verified first
- FiftyThree will pay for any shipping involved (with exceptions)
- Refunds are credited back to customers’ Visa, MasterCard or American Express credit/debit cards
While the 30-days refund policy is available on the Pencil’s product page, the “Pencil Guarantee” page is placed in the footer, but only available if the user clicks on the link named Legal first: