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What does prorated refund mean?

Updated: 9/16/2023
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13y ago

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Example: Fee for 1 year = 12 dollars. Contract terminated after 6 months. The refund is $6; in other words you get back the money for those months you haven't used.

Pro-rated means a portion of the value is deducted based on age and or condition of the item you are returning. So what you get is not the full price paid for the item, only a portion of what you paid.

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Q: What does prorated refund mean?
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