Business Policies - Shipping, Returns and Payment policies
These are split into:
Shipping policies - Create a policy like "Large envelope size", "Small parcel size with international postage", "Small parcel size domestic only", etc, on the online eBay control panel. You can then select one of these policies when creating a listing. This means that when postage rates change, you can just edit the policy and put in the new prices and all the auctions that have this policy set will get there shipping prices updated immediately. If you have thousands of listings, this is so much quicker then changing manually, or even with the Jumble Saler batch updates.
Returns policies - Create a policy like "Local returns accepted, no international returns" and then use this when listings are created. If you then change you mind about returns, then you can just edit the policy and it instantly updates all eBay listings based on it.
Payment policies - Same thing. This isn't really used as eBay now do eBay Managed Payments. However, you could do "Cash on collection" or other custom ones if you prefer.
For more information, see eBay's help pages:
Business policies | eBay.co.uk
Business Policies | eBay.com.au
Business Policies selection in Jumble Saler
When creating a new listing, you can either set the delivery and returns manually, or all use the Business Policies section to select one:

You have to use the 'Collect Business policies from your eBay account' button first to populate the boxes, and also if you add new ones or change the names online. If you are using our Standard Edition or above and have multiple eBay accounts linked, then you need to select one for use with your new listing, as the Business Policy ID numbers are specific to particular eBay accounts.