- Your first template is free
We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!
Overly relaxed return policies may cost you money and hurt your business' reputation. For this reason, you need a reliable, easy to use, and comprehensive refund policy, which will guide your customers and your staff through the process of seeking a refund.
A refund or returns policy is a legal document which sets out how a business deals with customers' request for refunds. This document provides detailed guidelines to explain under which circumstances purchasers are entitled to a refund or replacement, and what they need to do to request one.
Clear and reliable refund policies encourage existing and potential customers to commit to your business, and allow them to shop without dread of the consequences.
Download this template at Lawpath
The cost of returns and refunds is a significant impact on businesses' profits. On the other hand, the threat of lost sales and undermined customers' relationships can be overwhelming.
Your business can use a refund policy to manage any refund request from your customers. This will demonstrate that your company stands by its product and its clients as well, and prides itself on an excellent customer service experience.
Some businesses advertise that they have a "no refunds policy". However, it is against the law to refuse to provide refunds or returns under many circumstances.
On the other hand, businesses can still protect themselves against customers who ask for a refund without being entitled to one. When writing your refund policy, you must always specify the conditions to ask for a refund or replacement. For example, you can state that your customers are not entitled to a refund if they change their mind after the purchase, or if they find the same item or service elsewhere at a cheaper price.
If you are in doubt about your rights to refuse to provide refunds, you should speak to a lawyer or visit the Australian Competition & Consumer Commission (ACCC) website.
Developing a good refund policy will effectively reduce the financial and human resources you spend on returns and refunds, and will help you gain your customers' loyalty. Your policy must always provide a complete overview of your business' guidelines, and reassure your clients about your code of conduct.
A good refund policy must answer your customers' key questions clearly, such as:
When writing a refund policy, you should always avoid anything that may make your customers believe that the refund policy isn't going to be easy.
Your policy must be easy to understand and provide immediate answers. In other words, don't use complicated legal jargon or wording, which may confuse your customers.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
A refund policy is an effective tool to avoid returns frauds and abuses. This includes falsified receipts or trying to return something which has been used or worn.
It can be tempting to eliminate returns and refunds altogether. However, in addition to being required under Australian consumer law, customers are more likely to trust retailers and businesses that offer an easy way to process refunds. Providing your consumers with a clear refund policy will help to build a solid relationship based on trust. It will also help your business easily manage any refund request and process the case by following specific and practical guidelines.
Your refund policy will be even more effective if you educate your staff on how to use it. This will help reduce the time spent on processing refunds.
Businesses can develop their own refund policy based on their needs and the nature of goods or services that they sell. When writing your policy, you should always keep in mind your customers' satisfaction and keep it easy to understand. By using simple and polite language, you will make the refund process more straightforward for your staff as well.
An effective returns policy will provide immediate answers to your customers' key questions. For this reason, you must always be upfront about all the conditions for being eligible for a refund.
There are several refund policy templates available online that you can use as a solid foundation for writing your own policy. If your business has specific conditions about refunds, or you sell expensive products and services, you might want to consider having a lawyer review or help draft your policy.
finder.com.au is one of Australia's leading comparison websites. We compare from a wide set of banks, insurers and product issuers. We value our editorial independence and follow editorial guidelines.
finder.com.au has access to track details from the product issuers listed on our sites. Although we provide information on the products offered by a wide range of issuers, we don't cover every available product or service.
Please note that the information published on our site should not be construed as personal advice and does not consider your personal needs and circumstances. While our site will provide you with factual information and general advice to help you make better decisions, it isn't a substitute for professional advice. You should consider whether the products or services featured on our site are appropriate for your needs. If you're unsure about anything, seek professional advice before you apply for any product or commit to any plan.
Products marked as 'Promoted' or 'Advertisement' are prominently displayed either as a result of a commercial advertising arrangement or to highlight a particular product, provider or feature. Finder may receive remuneration from the Provider if you click on the related link, purchase or enquire about the product. Finder's decision to show a 'promoted' product is neither a recommendation that the product is appropriate for you nor an indication that the product is the best in its category. We encourage you to use the tools and information we provide to compare your options.
Where our site links to particular products or displays 'Go to site' buttons, we may receive a commission, referral fee or payment when you click on those buttons or apply for a product. You can learn more about how we make money here.
When products are grouped in a table or list, the order in which they are initially sorted may be influenced by a range of factors including price, fees and discounts; commercial partnerships; product features; and brand popularity. We provide tools so you can sort and filter these lists to highlight features that matter to you.
We try to take an open and transparent approach and provide a broad-based comparison service. However, you should be aware that while we are an independently owned service, our comparison service does not include all providers or all products available in the market.
Some product issuers may provide products or offer services through multiple brands, associated companies or different labelling arrangements. This can make it difficult for consumers to compare alternatives or identify the companies behind the products. However, we aim to provide information to enable consumers to understand these issues.
Providing or obtaining an estimated insurance quote through us does not guarantee you can get the insurance. Acceptance by insurance companies is based on things like occupation, health and lifestyle. By providing you with the ability to apply for a credit card or loan, we are not guaranteeing that your application will be approved. Your application for credit products is subject to the Provider's terms and conditions as well as their application and lending criteria.