In the past I would frequently find cancellation penalties listed in the details of the rate description section of special offers with the standard wording at the bottom

Cancellation Policy
If you cancel before x pm hotel time on xx/xx/xxxx, there will be no forfeiture amount. If you cancel after x pm hotel time on xx/xx/xxxx, the forfeiture amount will be USD xx.

I have always assumed the more restrictive policy applied and that it was simply an oversight to leave the standard policy in the final section. I must say it seems to have become less common recently.