The App Store’s lack of a trial process or refund policy has been one of the few downfalls of an otherwise successful venture. Though some 3rd party developers offer refunds under special circumstances, it’s not a bet you’d ever be willing to make.

But if you recall last month, there were reports going around that Apple was making a change to its App Store policy. Word on the street was that the Cupertino company was going to implement a 7-day app return policy for the folks in Taiwan to comply with a government mandate…

Though the new policy had been independently confirmed by multiple media outlets, Apple has been relatively silent on the subject- until now. MacRumors is reporting that the Cupertino company has now formalized the new course, and has amended their Terms of Service to reflect it:

“You may cancel your purchase within seven (7) days from the date of delivery and iTunes will reimburse you with the amount paid, provided you inform iTunes that you have deleted all copies of the product. Upon cancellation you will no longer be licensed to use the product. This right cannot be waived.”

The change applies to App, Mac App, and iBook Stores, and appears to be specific to the Taiwanese market. The new return program is in wake of orders from the Taiwanese government that Apple must comply with their Consumer Protection Act, which requires a consistent refund policy.

The real question is, would Apple ever implement this return policy in other markets, like the US or the UK? I doubt it. 7 days to try out an application? It seems like companies who make their money selling games or vacation-specific software would go out of business.

What do you think?