As a financial executive, you understand that strategic partnerships and your various vendor agreements are crucial to the success of your institution. Although reading the fine print can be tedious, it is essential to comprehend the specific contract, renewal, and auto-renewal terms, penalties, fees, and dates of each agreement to determine if it aligns with your institution’s short- and long-term goals. This includes your loyalty program contract that provides important dates, program fees, and penalties that could result in significant losses if the terms and conditions are unmet. 

From tracking important contractual dates to considering long-term strategic plans like mergers and acquisitions, check out our checklist to ensure that your loyalty program contract sustainably supports your goals.

Read Your Loyalty Program ContractLoyalty program contract

One of the simplest yet most valuable pieces of advice is to read your contract. Details matter the most, so it’s important to understand your agreement to conduct effective negotiations completely. Take your time to carefully read the entire loyalty program contract, and review it more than once if necessary. If you encounter any sections you don’t fully comprehend, don’t hesitate to ask for clarification. This can save you time and money in the long run.

Contract Dates – More Than Just Numbers

Understanding your loyalty program contract dates is more than just marking them on the calendar. It’s about exploring the specifics:

  • Co-terminous Agreements: Is your contract aligned with processing agreements like debit, credit, and ATM services? What about your brand and core/software agreements? Identifying these connections is crucial for seamless operations.
  • Notification Requirements: Know the official notification period for non-renewal. Are there auto-renewal or auto-rollover terms? Understanding these aspects prevents unwanted surprises.
  • Termination Fees: Delve into the details around early termination fees, points buyout, and penalties. Be prepared for any potential deconversion fees and negotiate terms wisely.

Review your loyalty program contract.

Mergers and Acquisitions – A Contract Reset?

In an era of mergers and acquisitions, assessing their impact on existing loyalty program contracts is essential. Clashes between different loyalty vendors can require a strategic reset to navigate these changes.

Pricing Beyond the End Date

Does your contract clearly outline new or increased pricing upon the end date? Avoid surprises by ensuring your contract explicitly addresses pricing adjustments, safeguarding your institution from unexpected financial implications.

ampliFI Makes It Easy

At ampliFI, we understand the importance of open and clear communication. As a result, we prioritize effective communication channels to ensure that our clients are always up-to-date with the latest developments regarding their loyalty contracts. If you have any inquiries about your loyalty contract, please do not hesitate to reach out to your dedicated Account Executive or Relationship Manager. Our team is always ready to help and provide you with the information you need to make informed decisions.

Connect with ampliFI to elevate your loyalty solutions. Connect with our team at or click the link below to get started.

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