Restocking fee
Encyclopedia
In retail, returning is the process of a customer taking previously purchased merchandise back to the retailer, and in turn, receiving a cash refund, exchange for another item (identical or different), or a store credit. Many retailers will accept returns provided that the customer has a receipt as a proof of purchase, and that certain other conditions, which depend on the retailer's policies, are met. However, these may prohibited by the Uniform Commercial Code. These may include the merchandise being in a certain condition (possibly being resellable), no more than a certain amount of time having passed since the purchase, or that identification be provided. In some cases, only exchanges or store credit are offered. Some retailers charge a Restocking fee for returned merchandise.
External links
- http://www.pcguide.com/buy/ven/eval/guarFees-c.htmlPC Guide article