Smart is now introducing a pre-termination program to all its postpaid subscribers allowing them to upgrade to an iPhone 5 at a discounted fee. Called the Wipe Out Program, subscribers can get as much as 75% discount on their pre-termination fees.
Between March 22 and April 30, 2013 subscribers can pre-terminate their existing Smart postpaid plans and upgrade to any iPhone 5 plan. Pre-termination fees is usually computed as the monthly service fee multiplied by the remaining months.

The Wipe Out Program gives subscribers up to 75% discount on the pre-termination fee as long as they upgrade to any of the iPhone 5 plans (downgrades are not qualified).
Here’s the table of Wipe Out discounts, based on the number of remaining months in the contract.

To learn if you’re postpaid account is qualified, just text “WIPEOUT” to 2928 on your Smart handset. You can then proceed to any Smart Business Center, pay the corresponding Wipe Out fee and upgrade to an iPhone plan.
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I qualified for the WIPEOUT program and all I have to do is to pay 2 thou++ pesos to preterminate my 2-year contract. However, Smart says that in addition to the pretermination fee, I still have to settle the applicable iPhone handset cash-out depending on the plan I choose. My 2-year postpaid contract ends in June 2013. Now why would I waste 2 thou++ pesos when I only have less than 2 months to wait?