handling returns on ebid

hi all, i am pretty new to ebid, and i know that i still have a very 'bad' 'bay preconception of returns ... was wondering exactly how ebid handles returns ... i am noting that seller's are allowed to own and execute their own return policies and that ebid really does not step in (until what point?) is this true?

anyway ... i am posting below a copy of my proposed return policy for review and constructive critiques (i don't want to turn away buyers, but i also do not want the flagrant return abuse that currently abounds on 'bay). thoughts, reactions and constructive criticism are encouraged and will be taken in context to my request for review and help establishing sales here, as well as learning more about ebid and returns in general here

<p>RETURN POLICY. 14 days after receipt if wrong item received. within 3 days after receipt if damaged in transit. notification of item damaged in transit must include photos of item package before opening (in addition to a brief description of damage), and of item out of packaging and must clearly show damage being claimed (photos must show enough detail to adequately identify the item/s; including any manufacturer's markings). return of item may be required. buyer pays all shipping. refund or replacement of item at seller's sole discretion. used postage is non-refundable. terms are non-negotiable.</p>