What happens if a buyer cancels the contract or requests a return and/or refund? 03 May 2023 14:16 Updated If a buyer wishes to cancel their order, Laced will assess each request individually and notify the seller. If a request is successful, at the reasonable discretion of Laced (and where the buyer is entitled to cancel and return the item in accordance with these terms), Laced will process the refund and charge the seller for the amount due. We may charge an admin fee equal to 12% of the sale price for processing the refund plus the cost of returning the item to the seller.