Why have a cancellation fee?
Why have a cancellation fee? Businesses or service providers are often not paid until “someone is in their chair,” so charging a cancellation fee is the only way to compensate for their losses in event cancellation.
What are the cancellation rights in the UK?
Default right to a cancellation period of 14 days For those contracts that are under the Regulations, your customer or client can give notice of cancellation up to 14 days after the contract is made, and may cancel without having to give a reason.
Does cancellation fee mean I get a refund?
Definition of 'cancellation fee' A cancellation fee will be charged according to the number of days' notice you give of the cancellation. If you cancel your reservation and you have insurance, you may be able to claim a refund of the cancellation fee.
Why should a client pay for a cancellation fee for cancelled bookings?
For Protection A cancellation policy is a way to protect yourself from lost business and revenue. A good policy should have a fee or penalty for cancellation, and enough time built into the cancellation notice so you can re-book the spot.