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Verizon Wireless Announces Variable Early Termination Fee (ETF)

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Wednesday, 15 November 2006

Verizon Announces Variable Early Termination Fee (ETF)

Overview

On Nov.16, 2006 Verizon Wireless will be the first wireless carrier to nationally introduce a new variable ETF. A variable ETF will provide another competitive advantage for Verizon Wireless and will demonstrate our responsiveness to customer needs. The current standard ETF is $175. The new variable ETF will attract more customers from our competitors and strengthen our customer commitment as an industry leader.

Eligibility

The variable ETF applies to the following customers:

  • New customers activating on or after 11/16/2006
  • Embedded-base customers who establish a new contract with an effective date on or after 11/16/06


The variable ETF does not apply to the following customers:

  • Existing customers under contract who make no changes to their service (or make changes that do not affect the contract effective date)
  • Specially negotiated business contracts with ETFs less than $175


How It Works

ETFs will be charged at the MDN level. The variable ETF will be $175 minus $5 per month for every month the customer has completed of their current active contract with Verizon Wireless. This applies to 1, 2 and 3-year agreements.

The minimum ETF amount by contract term is as follows:

  • $120: 1-year contract
  • $60: 2-year contract
  • $0: 3-year contract (3-year contracts not available in all areas)


Examples:

1-YR contract - 3 months service completed x $5 = $15, $175 - $15 = $160 ETF
2-YR contract - 13 months service completed x $5= $65, $175 - $65 = $110 ETF
3-YR contract - 30 months service completed x $5= $150, $175 -$150 = $25 ETF



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Last Updated ( Tuesday, 10 April 2007 )
 
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