Concept in Definition ABC

It is recognized as reimbursement to the economic operation through which a person or entity receives from return some amount of money or material goods that he had given as payment for a service or product. The refund is usually given as a result of erroneous, accidental or bad situations realization of a purchase in which the service or the product could not be insured in the way in which the buyer wanted it.

Reimbursement is a specific situation that occurs when a person or entity pays for the acquisition of a service or product to the one who provides it. Faced with a poor resolution of that purchase, either voluntarily or involuntarily, the buyer may request a refund, which means that the operation is canceled. and at the same time, when the buyer does not receive that product or service that had been requested, the money or material that he has used to pay for the purchase is returned to him. same. The refund is considered a right the buyer or the

client since it is estimated that if the service cannot be completed, you must be able to agree to have the money or assets invested back.

The reimbursement is also based on the idea that the business relationship between both parties existed at some point. Thus, to deny the refund would be to deny the exchange that was ever established between the interested buyer and the seller. Only in cases in which the refund is previously clarified can it be annulled if the buyer accepted as a rule of the operation that he lost his right to claim it. When we talk about sellers represented by large companies or institutions There are usually no problems with the refund since the amount of money requested does not affect the finance of the company itself. However, in some cases, when we talk about operations between smaller, small and medium institutions companies or directly between individuals the reimbursement can be replaced by an impersonation of the product by one Similary.

It can also be added that the concept of "cash on delivery" is one that assumes that a commodity o service is paid when delivery is made o installation of the same, which means that the payment cannot be deferred beyond that moment.

Refund Topics