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Product return. The return policy posted at a Target store. In retail, a product return is the process of a customer taking previously purchased merchandise back to the retailer, and in turn receiving a refund in the original form of payment, exchange .
Some examples of return fraud include: Bricking : Purchasing a working electronic item, deliberately damaging or stripping it of valuable components to render it unusable, then returning the item for profit.
A return merchandise authorization (RMA), return authorization (RA) or return goods authorization (RGA) is a part of the process of returning a product to receive a refund, replacement, or repair to which buyer and seller agree during the product's warranty period.
An overpayment scam, also known as a refund scam, is a type of confidence trick designed to prey upon victims' good faith. In the most basic form, an overpayment scam consists of a scammer claiming, falsely, to have sent a victim an excess amount of money.
The point of no return (PNR or PONR) is the point beyond which one must continue on one's current course of action because turning back is no longer possible, being too dangerous, physically difficult, or prohibitively expensive to be undertaken.
A deposit-refund system (DRS), also known as deposit-return system, advance deposit fee or deposit-return scheme, is a surcharge on a product when purchased and a rebate when it is returned. A well-known example is when container deposit legislation mandates that a refund is given when reusable packaging is returned.
With price adjustments, retailers will refund a customer the difference in cost even if the item has already been used. Returns, on the other hand, usually need to be in unused condition. Some retailers have different policies for in-store purchase and online purchases.
Product recall. A product recall is a request from a manufacturer to return a product after the discovery of safety issues or product defects that might endanger the consumer or put the maker/seller at risk of legal action. The recall is an effort to limit ruination of the corporate image and limit liability for corporate negligence, which can ...
A money-back guarantee, also known as a satisfaction guarantee, is essentially a simple guarantee that, if a buyer is not satisfied with a product or service, a refund will be made.
Return of premium (ROP) life insurance is a type of term life insurance policy that returns a portion of the cumulative premiums paid if the insured outlives the policy's term. For example, a $1,000,000 policy bought for $10,000 a year over a 30-year period would result in $300,000 being refunded to the surviving policyholder at the end of the ...