I have been a victim of the policy as you may say, as I didn't know it at the time...but their policy is that if you never start a round, they give you a credit for either a round or the $$ amount that never expires.
However, if you start, you are out the $$ no matter if you play one shot, one hole, or more..
We learned this the hard way when we stopped a round after 7 holes (during 45, raining, and winds gusting to 50-60+). They pulled us off b/c of lightning, and the day before, one of the caddies said he had seen lightning two or three times in Bandon in 6 years.