{"data":{"id":"us-md/md.-code-commercial-law-12-1403","jurisdiction":"us-md","citation":"Md. Code, Commercial Law § 12–1403","heading":"","body":"(a) If a business entity cancels a merchant processing agreement before the expiration of the initial term agreed on by the credit card processor and the business entity, the credit card processor may not assess or charge a fee, fine, or penalty that exceeds $500.\n(b) If a business entity terminates the merchant processing agreement after the expiration of the initial term agreed on by a credit card processor and a business entity, the credit card processor may not assess a fee, fine, or penalty, unless a credit card processor and a business entity have entered into a separate renewal merchant processing agreement.\n(c) Subject to subsection (d) of this section, a merchant processing agreement shall disclose clearly and conspicuously in bold, 12 point font the following information:\n(1) The amount of any early termination fee, fine, penalty, or liquidated damages that may be assessed by the credit card processor for termination of a merchant processing agreement before the expiration of the initial term;\n(2) The expiration date of the merchant processing agreement;\n(3) The renewal date of the merchant processing agreement; and\n(4) The customer service contact information of the credit card processor, including telephone number, mailing address, and e–mail address.\n(d) The information required under subsection (c) of this section shall be:\n(1) Provided on the signature page of a merchant processing agreement; and\n(2) Initialed separately by the business entity.\n(e) The credit card processor shall provide a copy of the merchant processing agreement in electronic or paper form to the business entity at the time the business entity signs the merchant processing agreement.","path":["Article - Commercial Law"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gcl\u0026section=12-1403","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:56:33Z","sha256":"85c29c4a487514fdb3a49def36df8309fbdfd55f9a58c5415adfbf8e33d34c91","source_id":"us-md","stale":false,"prev":"us-md/md.-code-commercial-law-12-1402","next":"us-md/md.-code-commercial-law-12-1404"},"notice":"GroundRules: Original legal text. Not legal advice."}