Legal Term

Square payment processing agreement fee changes analysis

Legal Definition

The systematic examination of contractual clauses within a Square payment processing agreement that govern the alteration of fees, including transaction percentages, fixed charges, and ancillary costs, to evaluate legal compliance, notice obligations, and potential financial impacts on the merchant.

In Plain English

Reviewing your Square contract to see how, when, and why Square can change the fees they charge for processing payments, and what that means for your bottom line.

Example in a Contract
Section 7.1: Fee Updates. Square reserves the right to modify any fees outlined in the attached Fee Schedule by posting updated terms on the Square website or sending email notification. Changes will take effect no less than fifteen (15) days after notice. Continued use of Square Services after the effective date constitutes acceptance of the revised fees. Merchants may terminate this Agreement without penalty if they do not accept the changes by providing written notice within the notice period.

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