Just thought you all might be interested in some research I've been doing lately for another project I'm working on: 

Here is some select information from one of about 200 manufacturers redemption policies I've researched for www.savvyshopperdeals.com: (They are all fairly similar - FYI - I've edited this information significantly.  There are slight variations by company.)

Redemption at the Store:

1. Coupons are redeemable only by consumers purchasing the quantity and size of the specific brands and product(s) stated on the coupon (EXACT MATCH - Too many sites/blogs encourage you to try and cheat on this one! Don't do it - it's illegal!) prior to its expiration date, with the face value of the coupon deducted from the retail price. Only one coupon shall be honored for each item purchased (This means NO PIGGYBACKING/STACKING COUPONS)

2. Coupons are void if transferred from their original recipient to any other person, firm or group. No unauthorized distribution, collection, sale or assignment of coupons for any reason is allowed. (This means NO BUYING COUPONS ONLINE)

3. The consumer is required to pay any applicable sales tax.

Processing Coupons for Payment:

Policy for Payment and Denials:

1) Retailers will be reimbursed for the following:

a) Face value of coupons or for coupons calling for free merchandise, the retail selling price (up to the stated maximum value).

b) $.08 for handling each coupon properly redeemed, to cover expenses such as:

retailer front-end handling
store to headquarters accounting
store occupancy
various loss
cost of funds
processing

(Sounds like that $0.08 doesn't go a long way sometimes, as some of you might think.  I don't think any store is making a fortune on handling fees.)

c) Reasonable out-of-pocket costs incurred for the physical transportation of the coupons.

They will not be responsible for any additional coupon promotion costs, including but not limited to, costs associated with coupon doubling promotions.