Clarity that prevents disputes.
WHY IT MATTERS
Most refund disputes come from an expectation nobody set. A published policy sets it.
It also reassures buyers, which increases sales rather than reducing them.
WHAT TO STATE
The period within which returns are accepted What condition items must be in Who pays return delivery How refunds are issued and how long they take Any items that cannot be returned, and why How to start a return
BE REALISTIC
A policy you will not honour is worse than none. If you would refund a reasonable request outside your stated window, say so rather than stating a rule you ignore.
WHERE TO PUT IT
Footer, linked at checkout, and mentioned on product pages.
FOR SERVICES
Different: what happens if work is cancelled, what is refundable, what is not.
IN PRACTICE
Refund promptly when a customer asks. A slow refund produces a chargeback, which costs more and damages your standing with the gateway.
THIS IS GENERAL GUIDANCE
Take proper advice on what applies.