Find below the most common terms used for Store Return Policy
- Return Policy: A set of rules and guidelines that dictate the process and conditions under which a customer can return a product they have purchased.
- Return Period: The time frame within which a customer is eligible to return a product, typically specified in days or weeks from the date of purchase.
- Refund: The amount of money that a customer receives after returning a product. A refund can be issued in the form of a credit to the original payment method, store credit, or exchange for a different product.
- Restocking Fee: An additional charge imposed by a store for processing and handling a returned product.
- Store Credit: A credit that a customer can use to make future purchases at the store. Store credit is often issued instead of a cash refund for returned products.
- Exchange: A process by which a customer returns a product and receives a different product in exchange.
- Original Packaging: The packaging material in which a product was originally shipped, which must often be in good condition for a product to be eligible for return.
- Receipt or Proof of Purchase: A document that serves as evidence that a customer has purchased a product and is necessary for the return process.
- Defective Product: A product that does not function as intended due to a manufacturing or design flaw. Defective products may be eligible for return or exchange.
- Final Sale: A designation applied to products that cannot be returned or exchanged, typically due to clearance or discontinued items.