Contracard Members may issue written notice of intent to cancel their member account at any time. If cancelled by a member, cancellation will be effective 60 days after the receipt of cancellation notice in writing.
All cash monthly and transaction fees due, plus any trade dollars owed become immediately due and payable in cash. The monthly fee is considered earned on the first day of each month. Therefore any member account closed after the first of each month will not be entitled to a refund of the monthly fee for the month of cancellation.
Accounts 60 days past due may be closed by Contracard, at which time any fees, plus trade dollars owed becomes immediately due and payable in cash. Contracard reserves the right to cancel membership without notice and to terminate members trading privileges for violation of any provisions of the trade agreement, or trading policies.
The membership fee is a one time fee refundable only during the first 7 days of membership. Trade fees or negative balances uncured during the 7 days will become immediately due, and payable in cash.