Hello Jesshuerta,
Welcome to VAF!
I want to mention first that the
RATES and BILLING category in which you have posted your question is filled with information regarding your question. So I do suggest you peruse the category as billing and deposits is frequently visited.
Here are my thoughts on your questions:
You should take a deposit for your work....at the very least 50% up front of the total estimate. This way you are covered if the client doesn't pay you for the work you have completed.
Some VAs take one month or three month's deposit and hold it until the job is complete and either return the deposit or apply it toward the final month's bill.
Whatever you decide, a deposit is customary
and protects your interest. It also shows that the customer is really serious about working with you.
Your contract should reflect your billing policies and procedures which would include payment terms, penalties for non-payment and the deposit requirement.
I'm not really sure about giving a full refund if someone is not happy with your work. Someone could say they are not happy and then use your work anyway while you are left without any pay for having done the work. I wouldn't hand the completed work back to the client in full, though until the final payment is made and/or the deposit is applied.
I would include your policy in your contract about a guarantee but really if there is a problem with your work then you can fix it and not have to worry about a refund.
Editing work is part of the job and IMO should be billed, however, there may be an instance where you might not have followed the instructions then I would certainly rectify that on your own time.
I have never come across a situation where 'too much editing' was a problem with the work I complete but if you do have a client who is 'over requesting edits' beyond what was asked when the project began, you may want to include something in your contract about billing for extra work.
This is why a contract is so important so that both parties have a clear understanding as to what work you will perform so there is no reason to refund any monies.
But always there are situations which will arise where each client will be decided on a case-by-case basis. Some clients are so difficult to work with that in the end it might be best to just 'call it a day' and refund the money. I've done that once in my career and glad that I did.
Best to you..
Janine