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.
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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.