Tappan Zed

Missions and Standing
Quitting missions (or ignoring them until they "time out," which amounts to the same thing) invariably results in a loss of faction standing; it is almost always in a character's best interest to complete all missions he or she accepts.

However, a character may freely decline a mission when it is first offered, as long as it isn't one of those rare "storyline" missions; after that, declining another mission within four hours of the first does result in a loss of standing. Still, in general, a capsuleer's career is usually long and eventful enough that a few such minor hits to standing may not be too large a price.