This cancellation charge refers to those charges that shall be payable by a Customer under the Minimum Contract Term or renewal period if they had terminated the contract earlier than the stipulated termination date.
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Default right to a cancellation period of 14 daysFor those contracts that are under the Regulations, your customer or client can give notice of cancellation up to 14 days after the contract is made, and may cancel without having to give a reason.
Definition of 'cancellation fee'A cancellation fee will be charged according to the number of days' notice you give of the cancellation. If you cancel your reservation and you have insurance, you may be able to claim a refund of the cancellation fee.
However, fees are a common consequence of canceling most commitments with short notice regardless of the reason. Examples include missed flights, hotel reservations, self care appointments such as haircuts or massages, and in some cases even dinner reservations.
In short: Yes, cancellation fees will hurt if you must cancel a reservation, particularly on short notice. But if you plan carefully, they shouldn't come up often. If you cancel one trip in ten, and incur a $200 fee, you're essentially paying $20 a trip.
For Protection A cancellation policy is a way to protect yourself from lost business and revenue. A good policy should have a fee or penalty for cancellation, and enough time built into the cancellation notice so you can re-book the spot.