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Cancellation Policy

A Cancellation Policy defines the rules for cancelling a rental reservation or agreement.

1 min read·Updated September 2026

Definition

A Cancellation Policy defines the rules for cancelling a rental reservation or agreement.

Why it’s important

Clear cancellation policies protect revenue and set transparent expectations for customers.

How it works

Policies may include notice periods, cancellation fees, refund eligibility, or non-refundable conditions based on timing or asset type.

PREXA365 modules behind this term

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