Money-back guarantee

Money-back guarantee is a promise that the buyer's money will be refunded under certain conditions, like if the product doesn't work or sometimes even if the buyer decides to return the product.

Definition

According to Principles of Economics by Timothy Taylor (3rd edition),

Money-back guarantee. A promise that the buyer's money will be refunded under certain conditions, like if the product doesn't work or sometimes even if the buyer decides to return the product.