| Term | Detail |
|---|---|
| Initial term | 36 monthsXplor Pay (Clearent, LLC) (opens in a new tab) · Contract or terms · Three years. The same term and default termination fee appear in its three published merchant agreements (Clearent, Central Bank and Jefferson Bank). |
| Automatic renewal | Renews for 12 monthsXplor Pay (Clearent, LLC) (opens in a new tab) · Contract or terms · Renews automatically for 1-year periods. |
| Notice to avoid renewal | 45 daysXplor Pay (Clearent, LLC) (opens in a new tab) · Contract or terms · To leave at the end of the term or a renewal without the fee, give 45 days' written notice. |
| Early termination fee (ETF) | Termination fee: the amount in your fee schedule per location (or the maximum allowed by law), or $395 if your fee schedule lists none, on top of any other damages the bank and Xplor Pay may claim. No fee if you leave at the end of the term or a renewal with 45 days' written notice. The same fee is due if the bank or Xplor Pay ends the agreement for cause (including if they decide your processing activity could result in a loss) or because your settlement account closed, and if, for 90 days in a row, you don't process the volume and average ticket you projected in your application (unless you're registered as seasonal).Xplor Pay (Clearent, LLC) (opens in a new tab) · Contract or terms · |
| How the ETF is calculated | A fixed amount of $395. |
| Right to raise prices | Xplor Pay and the bank can amend the agreement with 15 days' notice (less when the law, card rules or your finances or volumes require it). If an amendment raises your fees (other than pass-through costs such as interchange), you can end the agreement before it takes effect; that clause doesn't waive the termination fee.Xplor Pay (Clearent, LLC) (opens in a new tab) · Contract or terms · |
Example: leaving in month 12
With our reference profile (Reference: $30k/month in card sales, $35 average ticket, 90% in person, 1 terminal, 12 months), the estimated early termination fee would be $395. Your contract may differ: use the calculator with your numbers.
This is general information about published contracts, not legal advice: read your own contract and check with a lawyer before you sign.