1. the quality or state of being refundable; the ability to be returned for a refund

Examples

• The refundability of the airline ticket depends on the fare type purchased.
• Check the refundability policy before making your hotel reservation.
• The store’s refundability terms allow returns within 30 days.
• Insurance policies vary in their refundability after cancellation.
• The refundability of digital downloads is often limited.
• Customers appreciate the full refundability of their deposits.