Denny Strigl, president and chief executive officer of Verizon Wireless, announced that Verizon Wireless will begin to pro-rate the early termination fee (ETF) for customers nationwide in the fall.

Verizon Wireless is the first major U.S. carrier to commit to a national policy to pro-rate the ETF. The company will include new terms in customer contracts that will progressively reduce the amount a customer has to pay if they terminate their contract with Verizon Wireless before their committed term expires. The pro-rate will apply to contracts signed or renewed after the policy takes effect, and the amount owed will vary depending on the time remaining in the contract.To that end, Strigl outlined benefits Verizon Wireless will add to its Worry Free Guarantee® for customers who pay their bills online via the company’s Web site. The additional guarantees include:

• Customers will receive notices via e-mail if there is a price plan that better matches their usage needs.
  

• To enable customers to take advantage of new technology more quickly, any customer with a $49.99 or higher price plan may upgrade their primary line handset after 12 months at the then current promotional price and conditions. The company will continue to offer a free phone upgrade every two years as it does now for all customers.
  

• If a customer’s phone fails after the manufacturer’s warranty, the customer will not pay more than $50 for a replacement phone.
  

• If a customer chooses, Verizon Wireless will store their phone contact list on its network—at no cost—so contacts can easily be restored when a phone is lost or stolen, or when a customer purchases a new handset.