All sales are not final
All sales are not final implies that a customer can cancel and exchange or claim a refund on the purchase. Most successful websites employ this clause in their policy to enable customers the added choice of return and refund. All sales are final would imply the opposite, that a customer would not be able to cancel or return a good once a purchase has been made. Ecommerce websites generally apply this condition to goods that are on sale and have offers or discounts.
Refund Cost
The cost for refund is borne by either the customer or the company. This should be stated clearly in the return and cancellation policy on the ecommerce website. There shouldn’t be any hidden cost for cancellation and refund. The payment procedure for the same should be mentioned in the policy as well.
Time Frame to return the product
The policy should explicitly state the time period allocated for cancellation. This means the time frame a customer has to cancel an order. The policy should also state the time period allotted for refund. This means the number of days it will take for a customer to get his money back after making a return. The time frame for malfunctioning and damaged products generally differ from the normal cancellation/exchange of a good. Sometimes a customer may get credit or an exchange offer instead of a refund. The duration allotted for such an exchange or credit and date of expiry of exchange should be stated as a main sub point in the policy.
Digital products
Digital products may or may not have refunds on purchases of such products. Sometimes a download link may not work and the company may give a refund in such rare cases.
Form of refund
The ecommerce website should also state the forms of refund available to a customer. A product can be exchanged for cash in terms of a refund, store credit or exchanged for another product altogether.The criteria for eligibility of refund should also be included in this point. (example: return a good in its original condition, within a time period, etc.) Most successful online companies offer their customers the option to select the form of refund, return or exchange as per the convenience of the customer.