This feature allows you to add terms and conditions per product variation. That way, a variable product can have different terms and conditions per variation.
Variation terms and conditions allow the input of the checkout checkbox text as well as selecting which part of the text will be used as the link (using the tags [link][/link]). If no text is added, the default terms text will be used.
Variation terms and conditions override the parent’s product terms and conditions. For example, if a variable product has both the parent product terms and the variation terms completed, the variation terms will be shown on the checkout page.