Account Close Clause Samples
The Account Close clause defines the terms and procedures for terminating or closing an account between the parties. Typically, it outlines the conditions under which an account may be closed, such as upon request by the account holder, breach of agreement, or completion of the contractual relationship. It may also specify notice requirements, final settlements, and the handling of any remaining balances or obligations. The core function of this clause is to provide a clear and orderly process for ending the account relationship, thereby minimizing disputes and ensuring both parties understand their rights and responsibilities at closure.
Account Close. Out Fees – The Transfer Agent may receive any fees reasonably related to the cost incurred by the Transfer Agent to close out a shareholder’s Account in an all-inclusive fee fund or any retirement corporate record kept account or any retirement tax–exempt record kept account serviced by the division or divisions of the transfer agent or any sub-transfer agents that service Accounts within employer-sponsored retirement plans, including not limited to, 401(k) and 403(b) plans, or in any prototype or similar retirement account which is part of a retirement account program sponsored by Fidelity Investments.
Account Close. 14.1. The User is entitled to request Gate Turkey at any time that his/her account is completely closed without giving any reason. This request must be made in writing to Gate Turkey. Gate Turkey may request some information and data from the User to verify the identity of the person making the request.
14.2. Upon the account closing request submitted by the User, the User’s account will be closed within 30 days from the date of receipt of the request.
14.3. The account transaction details and data of the User whose account has been closed will continue to be stored by Gate Turkey for the legal periods for the periods stipulated in the law.