Running an online business and selling products or services online comes with some inevitable paperwork. The compliance process may take a few weeks, but when you prepare for it wisely, you can shorten it and avoid unnecessary mistakes.
Online business owners need to ensure that their websites comply with banks’ or payment processors’ regulations. It’s better to make all the changes needed before the entire process start to make it go quickly and smoothly.
In this article, we will discuss a few must-haves you should include on your page.
Transparent Terms and Conditions
The terms and conditions agreement is not only for customers but also highly important for protecting your business by making sure customers know their rights and responsibilities.
Here is what you should include in your terms and conditions.
Customer Rights and Responsibilities
- Payment and pricing details with all taxes or extra fees included and the list of payment methods accepted on your website. You can also add information about how late or missed payments will be handled or what will be done in the case of payment disputes.
- A refund policy. The point is to make it as clear as possible for users so they know what to do with items bought on your website. In the EU, merchants have to replace, repair, or issue a refund if the products or services are not as described or don’t work properly.
- An opt-out policy to make it clear that customers can resign from your services. They can cancel or return the ordered product or service within 14 days for any reason and without any consequences.
Delivery and Shipping
In the case of shipping physical goods, include a clear statement of the delivery time frame.
Dispute Resolution Details and the Website’s Legal Liability
It’s better to include this information in your terms and conditions agreement to make it easy to resolve situations where a customer is not satisfied and asks for compensation.
Remember that your terms and conditions should follow consumer laws and cover things like the right to receive a refund. Of course, consumer laws apply even when you don’t put them in the terms and conditions on your website, but you can, for instance, limit your liability.
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