One of the most frustrating parts of getting a new smartphone is having to sign that dreaded 2-year contract. If you break that contract you'll be punished into paying an ETF (early termination fee), which is usually a few hundred dollars. Ting, a small U.S. pre-paid mobile carrier has come up with a promotional plan that will kick off on Feb. 1 and run until the end of the month. Per the plan, Ting will pay the early termination fee of a customer that switches to it's service.

Ting posted the following message on its Ting Blog:

We hear from people all the time that they're going to make the move to Ting... just as soon as their current mobile contract is up. We hate to see people toil under the yoke of mobile oppression (not to overstate things). We've decided to take matters into our own hands.

We've set aside $100,000 to pay off Ting switchers' early termination fees (ETFs) over the entire month of February.

On Feb 1, the Ting $100,000 ETF payoff page will go live (we'll update this post with the link). Continuing through the end of the month, Ting will be paying off the early termination fees (ETF) up to $350 per line for anyone that's ready to ditch their mobile contract and come over to Ting.

We're not buying out your contract and asking you to sign a new one; Ting is (and always will be) contract-free. Your ETF payment comes in the form of a non-expiring service credit dropped straight into your Ting account.

Why, we hear you asking in earnest? Well, because we're pretty sure that after you give us a try, you'll stick around long after your Ting credit has run through and you'll join the ranks of happy Ting customers, saving money, living contract free and taking advantage of all Ting has to offer"

Complete terms of the deal can be found here.

Sounds sweet? Well, it is. However, before you jump ship, we ought to warn you that Ting won't be handing out cash. That's right. Read the fine prints again - Your ETF payment comes in the form of a non-expiring service credit dropped straight into your Ting account.