What are the terms of a two year contract?

I am trying to get information for my mother so she can start me on a plan, and I wanted to know a few things. When on a two year contract do you get charged fee's if you don't pay your bill right away? Or does your phone just turn off and stays off until you can pay your bill?
I also wanted to know how you pay a two year contract bill. Is it like $50 dollars a month? What are the rates?
Thank you for your help and time

The late fee is $5.  No your phone won't get cut off right away. If you do it too many times it might. Why are you already thinking about not paying a bill BEFORE you even have service?
HOW do you pay? You can mail the payment in, pay it online, pay it pay phone or go to a Verizon store.
$50 a month? HA! Your cost will depend on what you want.
If you wan to know the rates go the the home page of the site.
http://www.verizonwireless.com/b2c/store/controller?&item=planFirst&action=viewPlanOverview

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