Refund or cancellation policy with specific terms

The FTC's policies on negative option marketing (including the 2024 Click-to-Cancel rule) require that refund and cancellation terms be specific, not discretionary. A policy that says "refunds at our discretion" is not a policy — it is a blank check for dispute. Financial products that lack specific refund timeframes generate disproportionate chargeback rates because users who cannot find cancellation instructions dispute the charge instead. The FTC Click-to-Cancel rule further requires that cancellation be "as easy" as signup, which implies the cancellation path and its terms must be disclosed at the time of purchase.

Create a dedicated refund and cancellation policy page at app/policies/refunds/page.tsx with specific numeric timeframes for each policy element:

// app/policies/refunds/page.tsx
<article className="refund-policy">
  <h1>Refund &amp; Cancellation Policy</h1>
  <section>
    <h2>Cancellation</h2>
    <p>
      Cancel anytime from Account Settings → Billing. Cancellation takes effect
      at the end of your current billing period. No prorated refunds for unused
      days within a paid period.
    </p>
  </section>
  <section>
    <h2>Refund Window</h2>
    <p>
      Submit a refund request within 30 days of your original purchase. Requests
      after 30 days are not eligible. Approved refunds process within 5–10
      business days.
    </p>
  </section>
  <section>
    <h2>How to Request</h2>
    <p>Email billing@yourfinserv.com with your order number.</p>
  </section>
</article>

Link this page from every checkout confirmation email and from the account billing settings page.

• ID: refund-policy

• Severity: medium

• What to look for: Enumerate the 4 required refund policy elements: (1) refund eligibility criteria, (2) refund timeframe in days, (3) how to request a refund (contact method), (4) refund processing timeline. For subscriptions, also check for cancellation terms (can cancel anytime, notice period, when billing stops). Count how many of these elements are present.

• Pass criteria: A dedicated refund/cancellation policy page or section exists containing at least 4 of the following: refund eligibility criteria, timeframe for requesting refunds (specific number of days), contact method for refund requests, refund processing timeline (specific number of business days), and for subscriptions, cancellation terms. The policy includes at least 2 specific numeric timeframes (e.g., "30 days", "5-10 business days").

• Fail criteria: No refund policy exists, or the policy contains fewer than 4 of the required elements, or the policy uses vague language with no specific timeframes (e.g., "refunds at our discretion").

• Skip (N/A) when: The product is a free service with no paid features or there is no possibility of refunds.

• Detail on fail: Describe what is missing from the refund policy and quote the file path. Example: "Refund policy at app/policies/refunds/page.tsx mentions eligibility but specifies no timeframe. Terms mention 'refunds granted at company discretion' — 1 of 4 required elements present."

• Remediation: Create a clear, specific refund and cancellation policy in app/policies/refunds/page.tsx:

  // app/policies/refunds/page.tsx
  <section className="refund-policy">
    <h1>Refund & Cancellation Policy</h1>
  
    <h2>Subscription Cancellation</h2>
    <p>
      You can cancel your subscription anytime at no cost. Cancellations take
      effect at the end of your current billing cycle. You will retain access
      until the end of that cycle. We do not issue prorated refunds for unused
      portions of a month.
    </p>
  
    <h2>Refund Eligibility</h2>
    <p>
      We offer a 30-day money-back guarantee. If you're unsatisfied with your
      purchase, request a refund within 30 days of purchase. Refunds exclude
      non-refundable add-ons and promotional credits.
    </p>
  
    <h2>How to Request a Refund</h2>
    <p>
      Email support@yourfinserv.com with your order number and reason for
      refund. Refunds are processed within 5-10 business days.
    </p>
  </section>