Terminating an agreement in Anchor is a significant action that cannot be reversed and stops any future billing or charges unless a new agreement is established with the client.
If there are unpaid invoices, it’s recommended to initiate and ensure successful payment before terminating the agreement. This avoids complications with collections after termination.
What Happens When You Terminate an Agreement?
Associated payment methods
All payment methods linked to the agreement will be removed.
Payments
It will no longer be possible to initiate new payments for the agreement.
Payments already in process will continue as usual (please note, If any of the payments fails, you will not be able to retry them).
Refunds:
Refunds already in process will continue as usual.
You can issue refunds for any payments made under the terminated agreement.
Access to agreement data:
All details of the agreement, including scope, contact information, invoice history, and the activity log, will remain accessible to you and your client.
Steps to Terminate an Agreement
Navigate to the Agreements Table in Anchor.
Locate the agreement you wish to terminate.
Click the three-dot menu next to the agreement.
Select "Terminate Agreement" from the dropdown menu.
Notify the Client (Optional)
You can choose whether to notify the client about the termination.
If you opt to notify them, you’ll have the ability to customize the message sent to the client.