Question
We missed a deadline on a project and client issued a chargeback on the payment without telling us or asking for a refund. So it made me think, since we never had one before. Should a business have a chargeback policy? If so, are there any good examples? Does your business have a chargeback policy?
Answer
When a credit card is used to make a purchase/payment the cardholder has the ability to chargeback that transaction for up to 180 days with the issuing bank. If they have not received the product and/or service as promised they will contact the issuing bank.
