cramerjohn004
Forum Regular
Join Date: 12.10.2021
Posts: 414
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Posted: 9.28.2022 12:51:27
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Get out your current copy of your merchant account agreement. Take a look at the back and look for the before mentioned section. Most often, here is what you will see or something very close to this:
"This Agreement shall remain in full force and effect for an initial term of three (3) years. This Agreement shall be automatically extended for successive one (1) year periods (underlined to draw your attention to this part) on the same terms and conditions start a payment processing company expressed herein, or as may be amended, unless Merchant gives written notice of termination as to the entire Agreement or a portion thereof at least 60 days prior to the expiration of the initial term (underlined once again for emphasis) or any extension or renewals thereof, in which case this Agreement will terminate at the end of the then current term. Notwithstanding anything to the contrary set forth herein, in the event Merchant terminates this Agreement in breach of this Section 13, the lesser of the following amount(s) shall be immediately due and payable to the services provider--(a) the maximum amount permitted by applicable state law, or (b) $295, if such termination occurs within the first twelve (12) months period of the initial term of this Agreement, or $195, if such termination occurs after the first twelve (12) month period of the initial term of this Agreement..."
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easyllendingz
Newbie
Join Date: 9.29.2022
Posts: 1
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Posted: 9.29.2022 5:58:51
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easylend
Newbie
Join Date: 10.3.2022
Posts: 1
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Posted: 10.3.2022 10:24:42
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