Will there be a refund if you do not collect the soft cap?
For sure there will be a refund in such case. It's a soft cap definition, isn't it?
logically - yes)
but I remember some projects that did not collect their soft cap and did not make a refund - continued to work on the project with the fact that they received... or sometimes just disappeared

Do you have a smart contract for this case?
let me explain ... I do not want a failure of ICO, but precaution is never superfluous.