Creation: the penalty in case of cancellation becomes applicable from the moment the reservation is created
Start: the penalty in case of cancellation becomes applicable as soon as the stay begins (at the time of arrival)
Start date: the penalty in case of cancellation becomes applicable on the start date of the reservation (at midnight)
Applicability offset: add an adjustment to the applicability time. For example, by entering "-7", the penalty in case of cancellation will be charged 7 days before the selected Applicability
Currency: Select the currency in which the cancellation penalty will be charged
Absolute fee: Enter a figure if you want to set a fixed fee in case of cancellation
Relative fee: If you want the cancellation fee to be a percentage of the booking price, enter it here
Maximum nights for cancellation fee: In case of insertion of a relative fee, enter a maximum number of nights to which the penalty can be applied in case of cancellation. For example, if you enter "0", no penalty will be applied. If instead you leave it blank, the penalty will be applied to all canceled nights
Commission size: Choose what you want the cancellation penalty applied to (eg. Room or product)
Modify a cancellation policy
From the Main Menu go to Settings> Rates
Click Cancellation Policies
Click on the cancellation policy you want to change