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How Does The Samsung's Exchange Program Work for the Galaxy Note 7?

There is too much conflicting details around Samsung's exchange program and Verizon's handling of it.  I just want to see if I can finally get an accurate answer to the question about the exchange. On one hand, I was told the exchange for a Galaxy S7 is just what it bought it / leased, then you own it.  Pay it off, first, then you can change devices.  But, there's the other side to it, where, this is an exception...we have until September 30th to trade in a (bad) Note 7 or the phone that was exchanged by September 30th, for a replacement Note 7 model, when they become available.

I received communications form Verizon that the new Note 7's are coming soon, so has anything changed, regarding how the replacement program will work?  Like, will those of us who did the exchange for a Galaxy S7 Edge, for example, be able to go back and swap that for a replacement Note 7, regardless of the contract?

Re: How Does The Samsung's Exchange Program Work for the Galaxy Note 7?
Customer Service Rep

sysbej01, I want to make sure we’re on the same page regarding the Note 7 recall. With your safety being our top priority, I’m glad to hear that you’ve already exchanged out of the Note 7 to a S7 Edge. To address your concern, you are correct. Being that you had a Note 7 and exchanged to a S7 Edge, you can exchange back to a Note 7 with no fees once they are available again. The S7 Edge will need to be in good condition and must be returned with everything that came in the box.

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