As soon as you sign, add a payment method, and approve an agreement, you can start to pay for services automatically. However, agreements or services can be updated. After all, life happens. 😊
Whenever an agreement changes after you sign it, Anchor will email you to inform you of the change, along with a request for approval. This ensures a transparent relationship between you and your service provider.
Below is a list of changes that will require your approval in order for a payment to be processed:
1. When a service includes an hourly rate or quantity rate, but not a cap
For hourly or quantity-based agreements, your service provider must specify:
The hourly / unit rate
The hourly / unit cap
However, setting a cap is not mandatory, as sometimes it is unknown.
For example, if you and your service provider are still unsure about how many hours are necessary for the service. The service can be added to the agreement including an hourly rate, so you will sign it and the vendor can add the cap later.
Upon adding the cap by the service provider, we will notify you by email and you will need to approve it in order to be charged for that service.
2. If a service was added to an existing agreement
Adding a service to a signed agreement will require your approval. You will be notified by email when a change has been made, and you will need to approve it in order to be charged for that service.
The added service will appear in the Agreement tab, but will not be charged until your approval.
3. If an ad-hoc charge was added
Whenever an additional charge is added, we will notify you by email and request your approval before processing the payment.
The added charge can be found in the invoices, but will not be charged until your approval.
4. If units or hours quantity changed
Services within or below the agreed cap (which is agreed upon in the agreement) are paid automatically. If the cap is exceeded or changed, we will notify you by email and request your approval before processing the payment.
This change will appear in the Billing Hub, but will not be charged until you approve it.
5. If the payment terms changed
The vendor will need your consent to change the payment terms. We will notify you by email and request your approval before editing them.
The terms change will appear in the Agreement tab, but will not be implemented in the agreement until your approval.
6. If the service description changed
Changing a service's description requires your approval. We will notify you by email and request your approval before editing them.
Still have questions? Feel free to send us a message by sending an email to [email protected], our team is always happy to help!