Return Policy is a policy statement issued by an eCommerce merchant about the rules and procedures for returning goods and services purchased from them. It primarily includes information about refunds, return requirements, accepted timeframes for returns, contact details of customer service, etc.
Return policy helps the seller ensure seamless handling of product returns, replacements, or refunds in a transparent manner. Some online merchants also include their refund policy in their invoices to enhance customer satisfaction, reduce disputes, and create transparency in the shopping experience.