Credit Subscription Policy
Credit Subscription Policy
Last Revised: November 20, 2020
Sovren customers using the Software-as-a-Service offering may elect to establish a Credit Subscription. Enrollment in a Credit Subscription is subject to the following terms:
• Subscriptions must be charged to a credit card on file. All credit card details are stored at, and by, Sovren’s payment processor, Stripe. Sovren does NOT store your credit card details.
• When you sign up or make a change to your subscription on https://portal.sovren.com and have negative credits while doing so, you will be charged for the appropriate tier to ensure that you have positive credits after the change.
• The card on file will be charged for a renewal subscription period for the tier selected, on the day after the account's credits have either been fully used or expired.
• The subscription period begins on the day it is charged.
• When an account consumes more than the remaining credits, it will be charged an amount sufficient to bring it to a positive balance, at the current subscription level.
• This policy is subject to change. You will be sent an email alert and given at least a one month notice before any changes occur. If you do not agree to the changes, you may cancel your subscription and renewals will not be charged.
• If the automatic purchase renewal fails for any reason, such as the card expired or declined, the purchase will be retried on the next day.
• Accounts on a Credit Subscription typically have a grace credit period to ensure the account is not shut off due to a small credit shortage. The grace credit range and period can be modified and overridden by Sovren at any time and for any reason.
• When making changes to the selected subscription tier within 7 days of the date the credit card was previously charged for the subscription, the previous purchase will be refunded, and a charge will be made for the new subscription tier. Current credit balance will be adjusted according to the difference in tiers.
• When you cancel a Credit Subscription, you may use the remaining credits until the end of the credit term. Automatic subscription renewals will be discontinued, and the account will lose access to the Sovren Software-as-a-Service platform at the end of the credit term (or when the credits are all used, if earlier) unless additional Annual or Forever Credit purchases are made.
• Additional Annual and Forever Credit purchases can be made while enrolled in the Credit Subscription. If an Annual or Forever Credit purchase is made during an active subscription term, the subscription effectively pauses until the new credits purchased are fully consumed or expire.
• Accounts may be raised to any subscription level, but note that an account may be lowered by only one tier per subscription charge. In the case of a large one-off batch, it may be advisable to pause the subscription and buy sufficient annual credits to process that batch.