TRAPPED
There are a number of companies who have termination fees, and not light ones either... Some companies charge over $500 if a merchant wants to terminate the contract.
The worst I've seen is a company who calculates their profit on a monthly basis, and will not allow the merchant to terminate without paying the entire amount of their anticipated profit until the end of the contract (this is a three year contract).
This is the equivalent of saying - you're going to buy all of your car's gasoline from my gas station - AND - if you decide to buy it somewhere else - you still have to pay me the profit I would have made on your future purchases.
Advice: Whatever you do - don't sign with a company who has a termination fee. It's a look into how they will treat you as a customer.
Phone: 860-298-8820jerry@merchantaccountsmadesimple.com