Refund policy defines in what amount and in what cases a customer can receive a refund if he/she cancels the subscription. Refund policy is defined for each subscription period of the service plan. When you create a new service plan, you can configure the refund policy. Later you can make changes if needed.
To configure the refund policy for the existing service plan, do the following:
- Open the Products > ServicePlans.
- Open the required service plan. Switch to the Subscription Periods tab.
- To edit the refund settings, select a subscription period and click Edit.
- Fill in the following fields:
- Set Non Refundable Amount that will not be returned to a customer on subscription cancellation.
- Set Full Refund Period (days) during which the customer may claim money back in case of subscription cancellation. The amount is calculated as the full order price minus the non-refundable amount.
- Select one of the After Refund Period options:
- Refund Prorated Recurring Fee – customer is refunded in proportion to unused services (refund is calculated on the basis of the recurring fee paid minus the non-refundable amount).
- No Refund – customer is not refunded for the cancelled subscription.