Simply head to PRICES and you will see CANCEL POLICIES in the tabbed area.

Click on New Cancellation Policy and follow the on-screen prompts
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You will see we give you the options of selecting lots of pre-configured choices, very similar to how the Online Travel Agents operate like Booking.com etc

Once you have decided how you want your cancellation policy to be adhered to you can choose which Rate types it is applicable to - Select one, many or all.

You can then click on SAVE CANCEL POLICY and you will get the confirmation screen below.  Which clearly states the policy wording as per your policy decisions

This is how it will look when your customers go to book.  Clear and precise information - No misunderstandings.

If you use the 'Manage My Reservation' feature, it will give the customer the ability to cancel online.....
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It will automatically work out if they are in breach of your cancellation policies and will give you the option to charge their reservation.  We will let you know of a cancelled booking in your notifications screen.
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This will give you the opportunity to collect payment for this cancellation with the card details if stored within your account.  Please note there is NO automatic collection of cancellation payments - This has to be manually collected through the reservation where it now shows as a separate line item.  This will allow you to send an up to date statement if you so wish afterwards.

Should you need to delete a policy, simple click on the "X" to delete or on the pencil icon to amend the policy created.

Please note: You will not be able to delete a cancellation policy which has bookings attached to it.

Overriding a Cancellation Policy.

Once a booking already has a cancellation policy assigned to it, you may discover that an error was made when creating the policy. Simply create a New Cancellation Policy in order to override the previous one created.