You can select from a wide choice of policy choices or create your own refund policies in the Reservations section of your account.
Note: as refund policies are generally tied to cancellation policy these concepts are linked within your MyVR reservation settings. However there are no cancellation policy settings in this section independent of refund policies.
Refund Policy Choices
When you navigate to Cancellation and Refunds (Setup>Booking and Payments>Cancellation&Refunds) you will see there are nine pre-configured "system default" policies to choose from.
Each one of these choices is followed by a short description. Use the description for a reference, either if you want to use the policy but rename it, if adding a Add New Refund Policy, or in the Payment Schedule tab when you are building a quote.
Add New Refund Policy
If none of the refund policy choices available reflect the policy you want to set, you can add as many additional refund policies as you like. Click on the green Add New Refund Policy button at the top of the screen, choose whether the refund is calculated by days before check-in or days after booking, set your other policy parameters and click Create Policy to add it to the refund policy list.
Additionally, you can use the Add New Refund Policy feature when you want to set up a second refund period within a single policy (e.g. you want to offer 100% refund if cancelled up to 30 days from the reservation date, but only 50% up to 7 days from the date).
Edit or Delete Refund Policy
You can edit or delete any of the custom policies you create by accessing the drop-down menu associated with the policy.