A Reservation Policy outlines the rules and guidelines for booking services, such as hotel rooms, flights, or restaurant tables. It typically includes information on how to make a reservation, payment requirements, and deadlines for cancellations or changes. This policy helps both customers and service providers manage expectations and ensure a smooth experience. Additionally, the policy may specify penalties for late cancellations or no-shows, which can vary depending on the service. Understanding the Reservation Policy is essential for customers to avoid unexpected fees and to secure their desired services effectively.