| Term | Detail |
|---|---|
| Initial term | Month to monthWave (opens in a new tab) · Contract or terms · |
| Automatic renewal | Doesn't renew automaticallyWave (opens in a new tab) · Contract or terms · Month to month, with no renewal term. |
| Notice to avoid renewal | Not needed: it doesn't renew automatically |
| Early termination fee (ETF) | No early termination fee. Month to month; you can close the account at any time, but monthly billing is not prorated and fees already accrued are still owed.Wave (opens in a new tab) · Contract or terms · |
| How the ETF is calculated | The terms don't set an early termination fee. |
| Right to raise prices | Wave may change its fees at any time and makes commercially reasonable efforts to give at least 30 days' notice; if you do not accept a change, you can cancel before it takes effect (Payroll Terms of Service).Wave (opens in a new tab) · Contract or terms · |
| Trial period | 30 daysWave (opens in a new tab) · Vendor website · The trial starts when you approve your first payroll; 1099 filing is not available during the trial. |
Example: leaving in month 12
With our reference profile (Reference: 15 employees paid every two weeks, 1 state, 12 months), the estimated early termination fee would be $0. 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.