Yes, most Pros do have a cancellation policy where cancellations after 8pm the night before the job incur a fee of 50% of the job. If this is the policy you want, no action is needed.
You are typically NOT eligible for cancellation fees if:
Ultimately, any disputes between you and your client over fees must be resolved using normal dispute resolution mechanisms.
Booking Protection is a way to automatically try and get a replacement clients whenver a client cancels a job after your nightly cut-off.
You can automatically bid on other work during that general time. If nothing is available, you earn your cancellation fee like normal. If you can find someone new, who will pay at least the same as the client, you automatically waive the fee on the other client. Booking protection in general attempts to maximize your potential earnings, by getting you more scheduled jobs (and the chance to win more Clients) and fewer cancellations.
Booking Protection is enabled by default. Turn it off when you accept any job request.
The new job you bid on will match all your previous criteria, including:
Unless you change the settings, all jobs are covered by Booking Protection including:
If you are not able to bid on a job that pays as well as the client's cancellation fee, then that client will still be liable for the fee, unless otherwise agreed upon by you both.
You can turn off Booking Protection and cancellation fees selectively for jobs.
You have a 11:00am 2.5 hour job scheduled. The Client cancels at 8am. You automatically bid on and get a 12:30pm 1 hour replacement job. In this example, you earn more because of Booking Protection than either the Booking Protection Minimum Payment and you still earned, even though the original Client cancelled.
You are a STANDBY for a 8:00am 2.5 hour job scheduled for the Client Ana. At 6:15am, you are no longer needed as a standby for Ana's job. There is another 8am 2.5 hour job that meets the criteria that you can be STANDBY for with Client Bethany. You are paired with the Client Bethany as her standby. Now, you have a better chance at a full job.