There are two types of contracts at TimeRex: monthly contract that renew monthly, and annual contract of compiled 12 months that renew once a year.
Whether you change from a monthly contract to an annual contract or from an annual contract to a monthly contract, you will begin using the new contract after the expiration of the current contract term.
To change from monthly to annual payment
Monthly payments are made until the expiration of the current contract term.
By changing the contract term setting before the next contract renewal timing, the contract will switch to annual payment from the next contract.
Example of contract term change
April 1.>Start of a monthly contract use
May 1.>Contract renewal
May 15.>Apply for a change to an annual contract (nothing will change at this time)
June 1.>Monthly payment ends, contract automatically renewed by switching to annual payment
To change from annual to monthly payment
Annual payments are made until the expiration of the current contract term.
By changing the contract term setting before the next contract renewal timing, the contract will switch to monthly payment from the next contract.
Example of contract term change
April 1, 2020>Start of an annual contract use
December 5, 2020>Apply for a change to a monthly contract (nothing will change at this time)
April 1, 2021>Annual payment ends, contract automatically renewed by switching to monthly payment