At your e-commerce site you need to provide information about refunds, terms and conditions and the privacy of your customers information. In PandaCommerce admin you can add your information under [Preferences] and [Checkout & Payments]. It is also possible to generate a sample policy by hitting the button to the right. However, you should note that the terms of your service might be different to what is written in these samples, due to the nature of your business. These texts are used in the checkout to provide information to your customers. Here is an example of what it looks like for the warehouse theme, where there is three links in the bottom of the checkout page.