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The cancellation policy of your property will take as a 'default' the one set in the Marketing and Policy area, not this area. Your 'default' policy can be used for all channels used for all channels of distribution and apply to all rates and roomsand rooms, to maintain simplicity. But some properties wish for specific deposit and cancellation policies that become allocated to specific Agent channels (such as a 'special' on your website; or your GDS bookings to a local company; or the 'non-cancellable' rates assigned to Expedia and/or Expedia, and these unique policies are supported via when booking occur through this channel and 'save' as the booking is saved so that your staff knows what the policy was when booked, even if modified after the booking occurs. If you wish to allocate unique Policies to these specific Agent channels, then create Policies additional Cancellation Policies here.

The policy setting policy settings are described in detail in the Marketing And Policies under the 'Cancellations' area.  If you are using Self Cancellations so that Guests cancel their own bookings - and automate the penalty Charge and Payment - then you may wish to create additional Cancellation Policies.  Make as many as desired and ask BookingCenter Support to allocate these unique Policies to the types of bookings you wish, such as your Booking Engine or your Kiosk.