A cancellation policy is added to products by suppliers to set rules on how much to refund the customer, according to the time the cancellation takes place. E.g. 25% will be refunded to the customer if he books less than 24 hours before departure.
How to create a cancellation policy
The supplier can create one or more rules and apply them to the products they should be linked to. Each rule can contain more than one step e.g. customer gets 50% refunded if he cancels 48 hours prior to departure and customer gets 25% refunded if he cancels less than 24 hours prior to departure.
In accommodation you add the the cancellation policy per room type, e.g. all Double Rooms, get the same cancellation policy. To add a cancellation policy to accommodation you first enter your accommodation (Products -> Accommodation -> select the name of your accommodation).
When you have entered the product you select the “Product settings” tab. Under the “product settings” tab you have a drop down list showing all your cancellation policies and can select the one that should be applied to this particular product.
It is possible to override cancellation policies for the accommodation, by applying a cancellation policy to room rates. In the case that you are offering for a limited time some special rate for your accommodation that should be non-refundable, you can set up and add to the room rate an non refundable cancellation policy.
Too add a cancellation policy to the the room rate go to the "Overview" tab and select "the name of the room rate" you would like to edit.
When you have entered the room rate you can select the applicable cancellation policy from a drop down list at the bottom of the page.