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
It is a monthly contract until the next contract renewal. When the time comes to renew the contract, it will switch to a yearly contract.
Example of contract term change
April 1.>Start of 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
When changing from an annual contract to a monthly contract
It is an annual contract until the next contract renewal. When the time comes to renew the contract, it will switch to a monthly 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>End of an annual contract, switch to a monthly contract
For information on how to change the contract period, please see this support article.