Your ability to change the terms of your distributor service contract depends primarily on the size of your business and your trading ability. Suppliers earn more money and are less exposed to risk when they work with larger companies that have established processing historians and are therefore more inclined to adapt their offer to obtain one for registration. On the other hand, small or newly created businesses do not have these benefits and often have to take what they can get. However, you can continue to improve your trading skills and use them to your advantage, regardless of the size of your business. Check out our article on trading your credit card processing transaction for some helpful tips. When it comes to equipment leasing, many suppliers will use a separate company to provide the equipment and manage the lease. In most cases, this “company” is in fact a 100% subsidiary of the supplier, often located at the same physical address. Note that the duration of your device rental is separate from the initial duration of your distributor account agreement. In fact, it`s often longer – take the hook for monthly lease payments, even if you close your reseller account at the end of the initial period. The acquisition of banking relationships allows merchants to sell goods and services using electronic payment methods. This partnership includes collecting information from the distributor`s payment gateway technology, communicating with card issuers via the purchaser`s network, obtaining authorization and billing the transaction to the dealer`s account.
Mandatory arbitration clauses are the most common type of restriction you will find, and they are a standard feature of almost all dealer service agreements today. These clauses simply require you to submit to mandatory arbitration instead of taking legal action. In most cases, the courts send you to arbitration before hearing your case anyway, so these clauses do not have much influence on your ability to pursue an appeal. Getting stuck in a long-term contract may not seem so bad if your business is buzzing, but things can go very fast south for a number of reasons.