To start selling on eBay you first have to set up 3 policies in eBay - 

1. Shipping / Fulfilment Policy - This lets buyer know how long it will take to ship an item
2. Payment Policy - This lets buyer know how they can pay you
3. Return Policy - This lets buyer know if returns are allowed

I. How to create Shipping Policy ?
 Click on Create Policy > Payment (Click here to get the link to this portal)

1.  Enter in your Policy Name and your Policy Description
  -  Name: "QS Shipping Policy"
  -  Description: "This is a standard shipping policy"
2.  Configure the following details - 
  -  Select the shipping type - Flat Shipping Rate, Calculate Shipping Rate, or Freight
  -  Select which shipping services you wish to offer
  -  Choose the Handling Time, Handling cost and whether you wish to offer Free shipping
3.  Select whether you wish to sell globally (internationally) and use the eBay International Shipping program
4.  Click the checkmark box next to Set as default shipping policy. (if visible)
5.  Click the Save button.

II. How to create Payment Policy ?
 Click on Create Policy > Payment (Click here to get the link to this portal)

1.  Enter in your payment information
  -  Name: "QS Payment Policy"
  -  Description: "This is a standard payment policy"
2.  Select the payment methods you wish to use
3.  Click the checkmark box next to Set as default payment policy. (if visible)
4.  Click the Save button.

II. How to create Return Policy ?
Click on Create Policy > Return (Click here to get the link to this portal)

1.  Enter in your payment information
  -  Name: "QS Return Policy"
  -  Description: "This is a standard return policy"
2.  Choose whether you want to have returns accepted, the return period and any additional policy details.
3.  Click the checkmark box next to Set as default return policy. (if visible)
4.  Click the Save button.