Those are not universal terms, and are actually defined in the contract which you seem to have not read. Grace periods, minimum commitments, subscription length

Those are not universal terms, and are actually defined in the contract which you seem to have not read. Grace periods, minimum commitments, subscription lengths, and/or post-paid terms are all common. Ironically there are far more complaints about cloud providers shutting down entire business operations because of a late payment here on HN. Perhaps you should consider this more thoroughly instead of escalating a single unfortunate anecdote into a strawman argument against how business billing works.