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P&O compensation

All,

I have been offered compensation from p&o ferries for a recent crossing which ended up with us travelling later than originally booked.

So they have offered £40 off a future booking.
It's unlikely I will be booking a ferry again, so I cant really use this compensation offer.

What are my rights on this situation ?

Can I insist on a cash refund from P&O or must I accept the discount they have offered ?

Thanks in advance

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