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Introduction to the questions that follow.
Something along the lines of ...
Online pricing is subject to change at any time, but from the moment you make an online order we will honour those prices for 7 days. If this time frame expires without payment being made your order will be disregarded and a new order would have oi be placed according to prices at that time.
Need to explain if an order will be placed on hold whilst stock comes in, or will it be sent out in stages. How long are delays likely to be, will substitutions be offered and what if substitue goods are not accetpable when they arrive?
Under the Distance Selling Regulations Act, which covers business to consumer transactions you must offer a 7 day cooling off period from when the contract to supply goods was entered (payment taken) for the consumer to cancel their order and be refunded.
I would reccomend you offer the same to trade/business, even though the same act does not require you to, as this seems a fair way to operate.