Auto-renewal clauses are the default, not the exception
Most processing agreements auto-renew for another full term unless cancelled inside a narrow window, often 60-90 days before the renewal date. Missing that window resets the clock on an equipment lease or contract term that may run multiple years.
Early termination fees scale with what's left on the contract
Early termination fees are frequently calculated against the remaining contract value, not a flat number — which means leaving in year one of a five-year term can cost far more than leaving in year four.
Equipment leases often outlive the processing contract
Terminal and POS equipment leases are commonly financed as separate agreements from the processing contract itself, meaning a venue can exit its processing agreement and still owe monthly payments on hardware for years afterward.
What to actually check before signing anything
The exact cancellation notice window and how it's delivered (certified mail is common; email often isn't sufficient). Whether the equipment is leased or owned outright. Whether the early termination fee is flat or scales with remaining term. And whether the contract length matches how confident the venue actually is in the relationship — a five-year lock-in is a very different commitment than a month-to-month agreement.