To create your Cancellation Policy, you can do so under Settings > Booking Settings > General. Here, you can create the standard cancellation policy for Reservations.
However, if you would like to make the Cancellation Policy even more detailed, you can go to Booking Settings > Restrictions and create specific Cancellation Policies based on your court types.
NOTE: To access the Cancellation Policies on the court type level, you must press the Yellow Expander icon for the table to appear.