| Term | Detail |
|---|---|
| Initial term | 36 monthsSpotOn (TSYS processing terms) (opens in a new tab) · Contract or terms · Same rule for every vendor, the longest binding term among the software and processing agreements. SpotOn's published processing terms set a 3-year initial term (§4.1). The All-In plan also has a 2-year software minimum, and POS Essentials software is month to month. |
| Automatic renewal | Renews for 12 monthsSpotOn (TSYS processing terms) (opens in a new tab) · Contract or terms · Renewal of the processing agreement. |
| Notice to avoid renewal | 30 daysSpotOn (TSYS processing terms) (opens in a new tab) · Contract or terms · |
| Early termination fee (ETF) | Software: all monthly subscription fees left in the term (Merchant Terms §10.4), and if you leave within two years you may be charged the difference between the hardware list price and the discounted price you paid (§1.4). Processing: 30 days' notice plus an Account Closure Fee whose amount is in your application (§5.2.C).SpotOn (opens in a new tab) · Contract or terms · |
| How the ETF is calculated | Not researched yet |
| Right to raise prices | Processing: the bank can amend fees with 30 days' written notice (Processing Terms §3.5), or sooner if the details in your application change (§3.3); leaving early costs the Account Closure Fee (§5.2). SpotOn's software and hardware fees: at least 30 days' notice, and you can end that contract before the change takes effect (Merchant Terms §3.3).SpotOn (TSYS processing terms) (opens in a new tab) · Contract or terms · |
This is general information about published contracts, not legal advice: read your own contract and check with a lawyer before you sign.