Ebays feedback policy should be used by members who have COMPLETED a transaction to let other potential customers/sellers know what to expect when dealing with an individual. This policy can also be abused so it's not always a sure fire way to sum up what to expect.
Leaving a Positive feedback:
Positive feedback should be left for any seller/buyer that has completed a transaction in a professional manner. This is a good way to build relationships here on eBay. Happy return customers will most likely get A+ treatment :)
Leving a Negative Feedback:
A negative feedback should be left for any seller/buyer that just doesn't have what it takes to be at the top. Abuse of this mark carries big penalties so be careful when leaving a negative. Some like to use this mark to blackmail sellers/buyers and that is 100% against eBay policy and some State and local laws. You will know in your heart of hearts if this mark is needed.
A neutral feedback should be used if you were happy with some of the transaction process. Most of the time things can be worked out between you and them thus changing your mind to shoot for a positive.
In my opinion your not entitled to leave any feedback when the transaction process hasn't even happened. If you agree not to complete a transaction with a seller/buyer (terms doesn't matter) then why you should be entitled to rate that persons business.
I wrote this guide because of a recent feedback of mine. I recieved a negative feedback from a lady in Canada that won a bid on my product and said she wasn't going to pay. I filed to get my fees back and I won. This lady then took it upon herself to give me a negative feedback stating I was using the postal service to rip people off. When shipping internationally my flat rate up front for any product is never less than 30 dollars. If the rate happens to be less at the time I print my shipping label I always return the difference to the buyer. Well she didn't want to hear that and told me to screw myself. I don't deal with people like that soo I gave her a neutral feedback stating she was a dead beat bidder which was 100 percent true. She didn't deserve a negative because she was willing to pay, just not by my terms.
All in all use better judgement..Leaving inappropriate feedback will not be tolerated. Plus people will see right thru any lie told thru this system thus making you look like the smuck.
Have a wonderful day :)