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You're not waiving the (courtesy) two weeks/two hours Valve offers on top of that.
That is you can refund a game if the purchase is not older then 14 days and you did not play it for more then 2 hours.
Basically you replace the legally required refund with the Steam refund policy.
Which is 100% legal.
It should mention that part where it says that I have to waive my rights!
Thanks for the quick clarification!
This doesn't mean you can't request a refund through Steams normal refund system, it's about something in EU which digital goods are exempt from.
Theres a bunch of threads I found about this through a quick Google search if you want to read more about it
https://steamcommunity.com/discussions/forum/0/2270320616963318415/
https://www.reddit.com/r/Steam/comments/2zi4d2/valve_restricts_14day_eu_refund_law/
https://www.reddit.com/r/Steam/comments/jo4b3l/by_clicking_the_button_below_to_proceed_you_agree/
Keep in mind it's not meant as a way to try out games, a refund policy isn't a substitute for demos.
Some indie games are shorter and a longer refund period would essentially make those games free.
I grew tired of those facists a long time ago already.
It makes no sense.
The EU isn't even the problem.
This was all Valve's doing.
All of it.
This isn't even something people can complain about.
No Business has ever been forced to always have refunds for everything.
Any company is 100% legally allowed to say, "NO REFUNDS."
Don't know why this is even ever a complaint.
The Steam refund policy is actually quite generous compared to that actual EU refund policy. The instant a product is provided to the end user starts the clock for EU with 0 leeway for things such as time played which the Steam 2 hour policy is quite a courtesy comparatively
The no refund on digital content was really the only option to not turn every online service into a free download provider.
If your box was not sealed anymore.
Now you can play the game for 2 hours and still give it back.
Oh this lobby.......