What is the difference between a Contract Renewal and a Price Rise?
A Contract Renewal relates to the duration of your agreement. At the end of your current term, your contract automatically renews for a further 12 month period to ensure uninterrupted access to your services.
A Price Rise is separate to your contract term. It refers to a periodic adjustment to the fees charged for your software and services, reflecting factors like rising operational costs and ongoing investment in the platform. A price adjustment updates what you are billed, but it does not affect the underlying term of your agreement.
It is important to note that a price rise can occur during a renewal period, and the two events are independent of each other.
The Contract Renewal Process
Why did I receive an email for a Contract Renewal?
You have received an email because your current subscription is set to renew in 70 days. We are giving you advance notice so you have time to review your account and make any necessary updates.
What happens if I do not take any action?
If no action is taken, your subscription will automatically renew under the same terms for another 12 months. Your service will continue without interruption.
How much notice is required to cancel my contract (also known as subscription) under normal circumstances?
Cancellations must be submitted at least 30 days prior to your renewal date to avoid automatic renewal. For example, to cancel a contract that renews on 1 October, you must provide written notice via Iress Connect before the 31 August deadline.
When was this change first communicated?
This change was first communicated in July 2024. You can refer to a copy of that email here.
Price Rises and Cancellations
How does a price rise affect my ability to cancel?
Under our standard terms and conditions, a 12 month fixed term period normally applies. However, when a price rise is announced, you are provided with a temporary window to review your subscription.
This window opens on the date you are notified of the price rise and closes 30 days prior to the price increase date. During this specific window, the required notice period to terminate your agreement is reduced to 30 days.
When will my service end if I cancel during a price rise window?
If you provide notice of termination within this temporary window, your Termination Date will be the end of the month following 30 days from your notice of termination.
Here is an example scenario where a price increase notice is provided on 27 January 2027:
- Notice provided on 27 January 2027: If you provide termination notice on the day the window opens, your Termination Date will be 28 February 2027.
- Notice provided on 13 February 2027: Your Termination Date will be 31 March 2027.
- Notice provided after the window closes: If you miss the temporary window and provide termination notice on 13 March 2027, standard terms apply. Your Termination Date will be the anniversary of your last automatic contract renewal (for example, 30 September 2027, assuming your normal renewal date is 1 October).
Managing Your Account
How can I make changes or cancel my contract?
To make changes or submit a cancellation request, log in to Iress Connect and navigate to the Licencing, Administration and IT Security Request tile. From there, you can manage your account or submit a request.
Can I upgrade or downgrade my contract/licences at any time?
Absolutely. You can request a change through Iress Connect, and our team will review and confirm the available options based on your current setup.
I have more than one contract with Iress. How do I manage them?
If you hold multiple contracts, they will appear separately in your Iress Connect dashboard. If you do not see one listed, please contact our support team via Iress Connect.
What if I have forgotten my Iress Connect login details?
Access Iress Connect and click "Forgot password?" on the login page to reset your credentials. If you still need help accessing your account, reach out to our support team on 1300 1300 69.
What should I do if the renewal email contains incorrect information?
Please contact our support team via Iress Connect as soon as possible. We will investigate and correct any discrepancies.
Where can I find a copy of my current contract or Terms and Conditions?
To request a copy of your current contract, please raise an IFA Connect > Connect with us ticket and we will arrange that for you.
You can view our standard terms and conditions on our website under Home > Trust (bottom of the page) > Legal > Software & service terms > Terms and conditions for the supply of software and services. A direct link is also included in your renewal notification email, or you can access them directly here.
