There are two different ways to inform customers of your companies cancellation policy. Each of these methods provides a different touch point to the consumer and can me mixed-and-matched to best suit the needs of your business.
Add Cancellation Policy At Checkout
The first way to inform users of your cancellation policy is to set a cancellation policy as part of your payment settings. This method will require a customer check the "accept terms" box which will include your cancellation policy. This method is good if you need extra reassurance that a customer accepts your cancellation policy. For information about how to create a cancellation policy navigate to Settings > Payment Info or see the help document titled Creating a Cancellation Policy.
Add Cancellation Policy to Product Details
You can also add a cancellation policy to each of your products as a sub-description. The appeal with this method is that there is a dedicated tab for the cancellation policy that can be read by the user in the product details on both the main booking and embedded purchase paths. In addition you have the configuration option to include this sub-description in customer receipt emails meaning that if a customer purchases this product they will also receive a copy of your cancellation policy as part of their order confirmation email.
Products > select product type > Action > Basic settings > Add/edit sub-description to include cancellation policy > Save Changes
Which method(s) of notifying your customers of your cancellation policy is ultimately up to your business needs. Many businesses that use TRYTN use a mixture of these methods to get the right blend of notifying the user of their cancellation policy.