Card Machine Contract Closing Down

[thecomputershopuk]

To start off thanks for any help you may give me .

I am a sole trader and will be closing up shop and my brother will be taking over . Utilities and Supplier have been sorted only problem seems to be Card Machine . My contract Ends next June and it was a 4 year contract i know with electricity and similar things you can just cancel if your business is closing . Is this the same for my Credit card Service & terminal .

Chris

 

[Ashley_Price]

Well, the quickest way to find out for certain surely would be to contact the machine's supplier. What do they say?

 

[LMDServicesUK]

You may well be able to undertake a Change of Legal Entity however it will depend on who your provider is as to whether they will allow you to transfer the terminal lease to a new Legal Entity ( e.g. your brother).. Your brother however will need to apply for a new Merchant account in his own name.

PM me if you would like some assistance.