Use the options from Policies tab to define the terms and conditions for which you will accept reservations. These are the terms that will be a legally binding obligation between you and the guest in order to guarantee a room stay at your property.
A guest must accept your terms when they complete the reservation checkout process and you must provide the services under the terms that you have offered them through your website.
This section you will be able to set the suggested deposit amount for your guest that are booking through the booking engine and direct dashboard

Deposit Methods
This method is used for properties that do not collect deposit to secure reservations. With this option, you have the ability to capture the guest credit card details for the reservation to keep on file.

You will see this feature only on the Percentage, Fixed Amount, and First Day Price deposit options. Please note that you will have your taxes/fees built in the Taxes/Fees section as well as configured in the Reservation Sources tabs.
This feature is for internal use only. If this feature is enabled, then staff will need to ensure that the balance due section of the guest reservation is at $0.00 before checking in the reservation. If there is a balance still due on the guest reservation then the system will prevent you from checking in that reservation on the platform.
The reservation confirmation type describes how you want to handle online reservations through the mybooking booking engine and the Facebook app.
There are 2 options:
1. Immediately confirm online reservations without verifying deposit payment
The reservation will be marked as confirmed as soon as the reservation is paid. If the reservation is made in mybookings or on the Facebook app, the guest will be notified that the reservation is confirmed. The system will generate the Reservation Confirmed email template to be sent to guest.
2. "For online reservations, require confirmation of the deposit payment before reservation is confirmed"
The reservations will be marked as "Pending Confirmation" when a new reservation is made in mybookings or on the Facebook app. The system will automatically generate the Pending Confirmation email template to guest.
Upon verifying payment, the status will need to be manually updated to Confirmed, at which point you will be asked whether to send a confirmation email to guest.
Choose whichever option works best for your property.

The cancellation policy page has two options for users to choose:
Use Standardized cancellation policies
This option is very generic as shown below in the screen shot To add a new cancellation policy just click on the green "Add New Cancellation Policy" to open up the option menu.
Enter my own custom text cancellation policies:
This option is highly recommended as the cancellation policies vary per property. Also this is your legal binding obligation between you and the guest.

These are the terms that will be a legally binding obligation between you and the guest in order to guarantee a room stay at your property. A guest must accept your terms when they complete the reservation checkout process and you must provide the services under the terms that you have offered them through your website.

Enter your property's normal check in time and check out time. This information will be listed on your mybooking booking engine as well as email confirmations.
Please note that should you enable the Late check out feature in this section, it is only used as an informational field and does not check nor update your availability.

On the following article you can find Terms & Conditions templates for your reference