Getting out of a POS contract
Most owners looking at this have two agreements, not one, and the second one is the problem.
What to find in the paperwork
The notice period
Frequently thirty to ninety days before renewal. Miss it and many agreements roll for another full term automatically.
The early termination fee
Sometimes flat, sometimes the remaining months of subscription, sometimes a formula. Reported Toast figures run from $1,000 to above $5,000, but yours is whatever your document says.
The hardware lease, which is usually separate
This is where people get caught. A four year equipment lease signed alongside a three year POS agreement does not end when the POS does, and it is often with a different company entirely.
Personal guarantees
Some equipment leases are personally guaranteed. Check whether you signed one before you assume the business carries the risk.
Sometimes the answer is to wait
If you are eighteen months into a thirty six month term, facing a large termination fee, and the system is working, the arithmetic often favours waiting and negotiating hard at renewal. We have told people that and lost the sale, and we would rather do that than sell someone into a worse position.
Send us the agreement. We will read it and tell you what it allows, free, whether or not you ever buy anything from us.
Questions owners ask
Can a POS contract auto renew?
Yes, and many do. The notice window is usually the single most important date in the document.
Will you read my contract?
Yes, free. Send it through the quote form and say what you are trying to do.
Have your own numbers checked
Send last month's statement. We read it with you, free, and tell you straight whether we are the ones to fix it.
Send your numbers
About a minute. It goes straight to the Equip team.
It reaches Judd Alsup and the Equip team. If we have a crew near you, that is who calls. If we do not, Judd handles it himself. We never ask for card or bank details on this site.