Review draft. Customer and merchant agreements take effect only after legal approval, publication and any required acceptance.
Restricting activity
The effective agreement must identify the grounds for restrictions, including security incidents, incomplete due diligence, disputed activity and binding legal requirements. It must explain permitted notice, scope, review and restoration procedures.
Customer-requested closure
Use the approved authenticated channel. The responsible provider should verify authority and explain pending instructions, open disputes, statements, fees and any action needed to return remaining funds.
Closing records and access
The closing confirmation should identify when access ends, how to obtain final statements and how pending payments, refunds or disputes will be communicated. Merchants should remove workspace access and retire integration credentials when their service ends.
Provider-initiated termination
Specify when a provider may suspend or end services, applicable notice and remedies, treatment of balances and reserves, and access to remaining records. A lawful restriction can affect what may be disclosed or when it can be lifted.
Records after closure
Preserve documents necessary for statutory, accounting, dispute and regulatory obligations under the approved retention schedule. Explain how former customers can make valid privacy or record requests.
Approval and publication requirements
Confirm grounds, notice and redress, permitted balance handling, service-specific closure conditions, contact and retention schedule.