It is recognized as reimbursement to the economic operation through which a person or entity receives back some amount of money or material goods that had been delivered as payment for a service or product. The reimbursement is usually given as a consequence of erroneous, accidental situations or the poor completion of a purchase in which the service or the product could not be insured in the way in which the buyer was looking for it.
Reimbursement is a specific situation that occurs when a person or entity pays for the acquisition of a service or product to the one who provides it. Faced with a poor resolution of that purchase, either voluntarily or involuntarily, the buyer may request a refund, which means that the operation is canceled and at the same time, as the buyer does not receive the product or service that had been requested, It returns the money or the material that you have used to pay for it. The reimbursement is considered a right of the buyer or the client since it is estimated that if the service cannot be completed, he must be able to agree to have the money or invested goods returned.
The reimbursement is also based on the idea that the business relationship between both parties existed at some point. Thus, to deny the refund would be to deny the exchange that was once established between the interested buyer and the seller. Only in cases in which the reimbursement is previously clarified can it be annulled if the buyer accepted as a rule of the operation that he lost his right to claim it. When we talk about sellers represented by large companies or institutions, there are usually no problems with reimbursement since the amount of money requested does not affect the finances of the company itself. However, in some cases, when we talk about operations between smaller institutions, small and medium-sized companies or directly between individuals, the reimbursement can be replaced by an impersonation of the product by a similar one.
It can also be added that the concept of "cash on delivery" is one that assumes that a merchandise or service is paid when it is delivered or installed, which means that payment cannot be postponed beyond that moment.
