Yes, in most cases the cancellation terms come back along with the room rate, so you can see them before you confirm anything. Typically you get a deadline date and time, and what the charge becomes once that deadline has passed, whether that is a part charge or the full stay. You can show this on your own screen or quote so your customer knows exactly where they stand, and you can repeat it on the voucher you send them.
The honest limit is that these terms belong to the hotel and the supplier, not to us, so the detail you receive varies. Some suppliers send a neat structured deadline you can read automatically, while others send a short sentence of plain text that a person has to read. Some rates are simply non refundable from the moment they are booked, and those will be flagged as such. Which suppliers you are connected to depends on your plan, so the richness of the policy information can differ from one source of rates to another.
One thing worth watching is the time zone. A deadline is usually set in the local time of the hotel, which may not match your office hours, so it is safer to treat the cutoff as earlier than it looks rather than cancelling at the last minute. Also remember that the policy returned at the final booking step is the one that applies, so if it differs from what you saw at search, go with the later one.
It is worth running a few test searches on both refundable and non refundable rooms so you can see how the terms arrive, then deciding where in your booking flow you want them displayed before your customer pays.