@Mark647 So you already have a guest? I am confused. Air BNB will hold back payment for a period of time when you first start and after that you will have the payout 24 hours after your stated check in time.
If you hover over the selected policy you will get the description. Strict means there is no refund after 7 days unless there are extenuating circumstances.
BTW you pictures are confusing to me. You have some lovely seaside pictures, but I didn't see a bedroom. Is it a studio apartment? You can add captions for the pictures. Also, you profile picture is a little creepy to me. A well lit profile is more welcoming. Just a couple of thoughts.