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Early Termination

Last Updated: Aug 28, 2020

Early termination penalties can be applied if the contract is terminated early. The types of penalties imposed include:

  • Remainder: The contract remainder will be charged.

  • Flat fee: charge a flat fee penalty.

  • % of Remaining Commitments: Charge a % of the commitment remainder.

When imposing an early termination penalty, you can specify the service to which the penalty charge will be applied to ensure revenue is associated to the proper GL code. All applicable commitment penalties will be charged to that service.