You can set up as many cancellation policies as you please and assign different ones to different travel agencies.
If you have a different cancellation policy dependant on how many rooms the travel agent is booking, that is possible by adding in the room range.
Example: My property has 50 rooms total, and I have a different cancellation policy if I book 1-10 rooms and then another one from 11-50 rooms.
If you have a FIT cancellation policy and a GROUP cancellation policy you can set that up with the New Range.
In this case we are stating the following:
For 1-5 rooms:
If you cancel within 48 hours, there will be a 100% cancellation fee.
For 6-60 rooms:
If you cancel within 2 weeks a 100% cancellation fee applies.
If you cancel within 4 weeks, a 50% cancellation fee applies.
If you cancel within 8 weeks, a 20% cancellation fee applies.