Cash Refund

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Definition: Cash Refund

Cash refund is the money which is returned to the customer in the form of cash. Cash refund can occur due to a variety of reasons. If a customer has been over-invoiced, the excess amount will be refunded to him. Also, if a product is defective, the company may refund the cash back to the customer for returning the product. The cash refund may be the full amount of the product or a partial amount. In the simplest term, it means return or repayment of cash.

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