Select from a wide choice of policy choices or create custom refund policies through MyVR.
Note: As refund policies are generally tied to cancellation policies, these concepts are linked within MyVR reservation settings. However, there are no cancellation policy settings in this section independent of refund policies.
Refund policy choices
To manage cancelation and refund policies, go to Setup > Booking & Payments > Cancellation & Refunds
The Cancellation and Refunds section provides nine pre-configured "system default" policies to choose from. These default policies cannot be edited.
Each one of these options is followed by a short description. Use the description for reference, when adding a 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 are appropriate, additional custom policies may be added. 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, use the Add New Refund Policy feature if a second refund period within a single policy should be established (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
Edit or delete any of the custom policies created by accessing the drop-down menu associated with the policy.