What is Web and IT Compliance?
The economy of our country is growing fast and when we talk about products and services, they are not only contributing through the physical market, but the online presence of these products and services is providing a huge boost.
Presently, almost every company and business can find a major portion of its potential clients in the virtual world. To reach out to every potential client everyone is trying to make a mark of his or her business online for which he or she use means like Websites, Web pages, Mobile and Desktop applications etc.
Every business, entity, organisation, etc. who interacts with its users/customers online through a Website or an App requires certain documents to be displayed on their platform to inform the users about the usage of their platform and consequences of such usage.
Following are the documents that are required to be displayed as pages on websites and apps regardless of the content on such platforms:
- Cancellation and Refund Policy
Finology expert team are well versed with drafting these legal documents and ease your process to start your business online. We take the load of making these technical documents off your shoulders.
- Definition of keywords used
- Rights and responsibilities of users
- Fair use clause
- Consequences of unwarranted use and conduct
- Payment and membership details if any
- Account termination and opt-out policy
- Clause limiting the owner’s liability
- Arbitration clause for resolution of disputes
The policy also covers if the information would be shared or sold to any other party.
- Consent, information that was taken,
- Use of information, etc.
Cancellation and Refund Policy
Every business involved in e-commerce or selling products or services online needs to have a well-drafted cancellation and refund policy. The need for this policy arises when the customer wants to return their product or cancel the services or their continuation. The policy provides a proper guideline for the customer for the recourse in case they have changed their mind or are not satisfied with the product.
From the point of view of sellers, it provides them with a mechanism to be safe from the frauds, deception, etc.
Cancellation occurs when a customer cancels the product or service for some reason. The reasons can be various such as changing of mind, dissatisfaction with the product, etc.
It’s very important to draft a proper cancellation and refund policy. Things to be added under these policies are-
- The time frame to refund or cancel a product;
- What amount would be refunded;
- Cancellation and refund charges (if any);
- How refund would be made;
- How dispute relating to refund would be resolved; etc.