Learn from our Industry Experience
the Fine Print
What risk do you take when you don't read the fine print? Know
the difference between the application and the terms of the contract
and avoid the pitfalls by taking time not just to ask questions
but to read it your self.
You may be surprised to learn how many
merchants report to us that when they are shopping around for service
sales reps will tell them that they don't have contract terms.
Many more sales reps have never bothered to read the fine print
themselves, but only go on what they heard from other sales
reps in their organization. It is in the back drop of this
environment that merchants should not be shocked to learn that
the Terms and Conditions of the merchant agreement are rarely
discussed or accurately disclosed.
With a focus on rates and not on service,
the lawyers who write the terms and conditions of the merchant
to lock merchants into a relationship that might not otherwise
last when introductory pricing expires and service is mediocre.
Three-year contracts terms are a norm and early termination
fees can run from hundreds to tens of thousands of dollars.
some merchants have become convinced by a well crafted argument
from a sales person that the three-year contract is a benefit
as a guarantee of the price quote. Before you buy into this claim,
carefully read all the fine print to find all the reasons your
price will increase then remember, the freedom to switch carriers
is the biggest deterrent of price increases. Avoid the long-term
Sample Contract Language to Avoid
With contract language like this, you are quoted
"to good to
be true" introductory rates.
As you become better educated, you will force the hand of the
sales strategy of "say anything, do anything" to get the contract
signed. When this happens, you will enter the "waiving" zone. Just
as many will waive line items on the application while the terms
& conditions say that such acts will not be considered valid
or that such changes must be made by an officer of the company.
Don't take our word for it, read the contract and start with ours.
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