Nobody downloaded yet

Policy on Refunds - Research Paper Example

Comments (0) Cite this document
While there is no law that requires a business to refund customers when they change their mind about a purchase, it is still a good business practice to enforce a Policy on Refunds…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER97.6% of users find it useful
Policy on Refunds
Read TextPreview

Extract of sample "Policy on Refunds"

Download file to see previous pages This should be balanced however with business pragmatism so that the number of refunds will not take its toll on the business bottom line. Before refunding the customer, the business should attempt to replace or repair the unit to keep the sale. If this is unavoidable, the following criteria should be met as a policy;
1. The unit broke down within the manufacturer’s warranty period. It should be established that the malfunction was due to normal use. A brief inquiry as to the circumstance why the unit broke down should be conducted by the frontliners.
2. In cases where customers’ merely had a change of heart with regard to the purchase, there will no refund. If the products are faulty, we will meet our obligations under the Consumer Guarantees Act to provide a remedy. To save the sale, a replacement with an extended warranty can be offered to the customer.
3. The business should not bear the cost for the faulty unit as we are mere dealers. All cost with units that has been refunded due to manufacturer’s defect and within warranty should be passed on to the supplier for refund.
B. If the business is in the service sector, prepare a policy on how you will charge your clients. Ensure that the policy complies with all relevant legislation and provides for a clear explanation of the service being offered. Include the terms and conditions that will apply to estimates and quotes and make provision for some system of arbitration in case of a dispute. To keep customer’s goodwill and establish a “service leader” image among our customers, units which are faulty that are within the manufacturer’s warranty should be replaced without cost and inconvenience to the customers. The business however should be careful that the manufacturer’s criteria for replacement are strictly met so that we can pass the cost to them. For units that malfunctioned beyond the manufacturer’s warranty period, could be repaired by our service business unit at a discount to encourage customer retention and cultivate customer goodwill. This will also increase our bottom line as the company can still make business for an after sales support that is not covered by the manufacturer. As much as possible, we will avoid absorbing the costs due to refunds as this will burden our expenditures and undermine our competitiveness. It has to be understood that at this point in time, the business is still in its introductory phase and it will be unwise to jack up prices to factor in costs associated with refunds. The business is still in the process of penetrating the market and it has direct competitors with the same product and as such, pricing should be kept to be competitive to remain viable in the industry. C. A breakdown of all the costs that you will incur in acquiring or manufacturing your products or developing your services up to the point of sale (you may, if you wish, focus on one product or service). The costs should be inclusive, including all materials, labour, administration, insurances, rental, electricity, promotion and other expenses. The nature of the business is retail so the manufacturing overheads will not reflect in our financial statements. Freight and delivery should be shouldered by the supplier also. Our overhead will mainly focus on the operation of the product distribution and upkeep of the outlet ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(“Policy on Refunds Research Paper Example | Topics and Well Written Essays - 1000 words”, n.d.)
Retrieved from
(Policy on Refunds Research Paper Example | Topics and Well Written Essays - 1000 Words)
“Policy on Refunds Research Paper Example | Topics and Well Written Essays - 1000 Words”, n.d.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document



...decision in relation to their spending. They will minimize their spending to conform to the skewed budget. Therefore, the spending in the economy will drastically reduce. As a matter of fact, the economy will be losing since the money circulation in the economy is skewed to the budgets of the public workers. Social welfare policy The social welfare policy is controversial in that it deems to assist all the people in the society. This is done by the government talking some of the amounts of cash garnered from the rich people in the society to fend for the needs of the poor people in the society. To the poor people, this is a prudent approach in taking care of the welfare. The poor people are given grants...
9 Pages(2250 words)Essay

Public Policy- Environmental Policy

...Public Policy: Politics, Analysis, and Alternatives. The main purpose of this policy was to generate a framework that will encourage productive and harmonious coexistence between man and the environment that he exploits. The policy was to further promote programs that will prevent environmental and biosphere damage and promote health and man’s welfare .In addition, was to enable us understand the value of ecological systems as well as natural resources that are of great importance to the Nation and the world at large. The policy recognizes the interrelationship among the components of environment, and more so, the influences of population growth, urbanization,...
4 Pages(1000 words)Essay

Legal Rights of Customer in terms of Refunds / Compensation

...Legal Rights of Customer in terms of Refunds / Compensation Legal Rights When One Buys Goods The UK law protected customer’s rights that flows from Sales of Goods Act 1979, Goods and Services Act 1982 and Supply of Goods to Consumer Regulations 2002 at the time of purchase of goods in relation with: a) goods in a satisfactory condition b) goods free of faults c) goods quality wise perfect d) having complete details about description, price e) finished goods f) publicized information available on the purchased goods g) specification of goods h) goods safely and properly usable (Twomey & Jennings 2010). Usually buyers encounter with the forward mentioned issues in terms of legal rights when buying goods:...
7 Pages(1750 words)Essay

Policy join and fight for the cause. Through activism, an individual will feel empowered to contribute in doing something to change the situation for the better, which is likely to lead to the realization of some of the changes needed. Question 3 The citizenry, media, as well as nurses are responsible for advocacy, lobbying, and activism since they are in a position to explore some of the best ways that can shape policies that target them. For the citizens that require improved health care, they can be able to lobby for their cause through a number of channels that might be inclusive of representations to the policy makers or through political figures (Ensign, 2012). This might also be the case for the...
1 Pages(250 words)Essay


...Human Resource Health and Safety Compliance Policy Compliance policies are there to facilitate a smooth organizational process in businesses or companies. Compliance policies prevent workplace accidents and problems between staff members (Butler, 2000). Employers and employees are able to fulfil their responsibilities when under a compliance policy. It is only through the presence of compliance policies that health and safety officers are in a better position to follow how an organization’s staff members follow their work codes while at work. A health and safety compliance policy is there to facilitate the smooth handling of health and a safety issues in (Butler, 2000). Additionally, the health and safety compliance policy should... be...
3 Pages(750 words)Research Paper

Social policy- policy analysis

...on this statistics, Scotland seems to be having the highest number of sexual offenses as compared to other regions such as Wales, Northern Ireland and England. This might be attributed to inefficient policy implementations and inability of the parents, guardians and child care givers to create adequate time to provide children with the necessary protection. Its sexual offenses rates are 3.3 cases out of every 1,000 children under the age of 16. In Northern Ireland, it stands at 2.5 persons per every 1,000 children under the age of 18. Moreover, in Wales and England, only 1.6 cases are recorded for every 1,000 children under the age of 16 (Jeff, 2003). The above analysis clearly indicates that child abuse is still a...
10 Pages(2500 words)Essay

Cultural Policy & foreign policy

...Soft Power as Culture Power Soft Power as Culture Power Nancy Snow makes a valid point in her ment that soft power is culture power as this is the case in the current global environment where there is increased use of art and culture as a measure of augmenting relation between countries. This is backed by increased use of cultural diplomacy by members of private and public sector as well as the civil society. Soft power, which entails exchange of information, ideas, values, or traditions among countries aimed at cementing relations, increasing socio-cultural cooperation and promoting national interests (Snow, 2009). This is possible through soft power offering advantages to the country including matching of ideas and culture... Power as...
1 Pages(250 words)Essay


...Report on food safety program Introduction The main aim of agriculture department is to develop and execute a number of policies on behalf of the federal government in areas of agriculture, subsistence and commercial farming and forestry. The main objective of this department is to meet the need of all farmers and ranchers in all states. In addition, the department promotes agricultural trade both locally and internationally, develops and monitors programs on food safety as well as protecting natural resources in the country. Food safety has become an issue of concern to most people and households in the country due to the incorporation of the latest technology in farming and processing most farm produce. Hence, the...
4 Pages(1000 words)Essay


...Adoption Policy and Transracial Adoptions There were several learning pint that came up while doing this assignment. These were as follows; The inception of adoption and how it has grown to be the thing it is today. In this particular aspect, it was good to learn that adoption was started as a way to give people a heir and a person to preserve their heritage and wealth. This means that mainly adoptees were only male children because traditionally males have always been seen as more of a better social asset than females. In this regard, a couple that could not get a child of their own could mainly seek a male adoptee as opposed to a female adoptee. The other issue that came up with this kind of adoption was the fact that...
5 Pages(1250 words)Assignment

Monetary policy&fiscal policy

... of mortgage and low interest rates being offered on loans (NPR Para 10). AS Price level P1 AD1 AD2 Y2 Y1 output The graph shows a fiscal policy whereby increase in taxes results, or cutting government spending results to a decrease in aggregate demand from Y1 to Y2. This is a restrictive fiscal policy. AS represents the aggregate supply curve, AD represents the aggregate demand curve and Y represents output. Work Cited NPR. Fed, Citing A Still-Struggling Economy, Will Keep Buying Bonds. (2013). Retrieved from: NPR. Stimulus Plan Refunds $600 to $1,200 to Taxpayers. (2008). Retrieved from: Monetary...
2 Pages(500 words)Assignment
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Research Paper on topic Policy on Refunds for FREE!

Contact Us