Common use of Method for Payment Clause in Contracts

Method for Payment. The default method for payment of advice fees is by automatic investment deduction i.e. the fund manager will pay us directly from your investment cash account. If you have signed a mandate for us to deduct funds from your SMSF Cash Management Account, we will deduct our upfront advice fees when there are sufficient funds to do so. If you do not wish to pay by investment deduction and you would prefer to pay by bank deposit, please let our office now either upon or before returning your Statement of Advice, and we will arrange for a tax invoice to be issued to you. Unless covered by ‘cooling off’ or other legal provisions, advice fees are non-refundable. Upon agreeing to the terms of your Statement of Advice, you are entitled to receive all of the services that are referenced herein, however you will not be entitled to pro rata refunds or rebates if you do not take advantage of any services on offer. We will do our very best to fully implement our advice to you, however in some cases we will need your assistance, and the assistance of external parties to complete some tasks, such as the provision of information and documentation. If we are unable to fully implement our advice to you due to circumstances beyond our control, you will not be entitled to a partial refund for services not completed. Our ongoing service agreement will continue until it is terminated. To terminate this agreement: Notify our office in writing, by sending a letter or email, containing your name (and SMSF trust name if applicable), and the words “I / we wish to cancel our ongoing service agreement with Virtue Planning Pty Ltd”. If you transfer money away from the account that is paying our fees, remove our servicing rights, reduce your investment balances or cause the fees to substantially reduce or cease, or otherwise authorise this, it will trigger an automatic termination of our ongoing service agreement. Virtue Planning reserves the right to terminate our ongoing service agreement with you any time by notifying you in writing. We will switch our fees off. Please allow 28 days for this to happen. We will instruct the accounts department within 7 days of termination but it can take up to 28 days to action your request. We will discontinue all services unless required under Australian law. If our ongoing service agreement is terminated mid-review period, you will not entitled to a pro rata refund of fees paid to date, however we may agree to refund advice fees at our sole discretion.

Method for Payment. The default method for payment of advice fees is by automatic investment deduction i.e. the fund manager will pay us directly from your investment cash account. If you have signed a mandate for us to deduct funds from your SMSF Cash Management Account, we will deduct our upfront advice fees when there are sufficient funds to do so. If you do not wish to pay by investment deduction and you would prefer to pay by bank deposit, please let our office now either upon at or before returning your Statement of Advicethis agreement, and we will arrange for a tax invoice to be issued to you. Unless covered by ‘cooling off’ or other legal provisions, advice fees are non-refundable. Upon agreeing to the terms of your Statement of Advice, you are entitled to receive all of the services that are referenced herein, however you will not be entitled to pro rata refunds or rebates if you do not take advantage of any services on offer. We will do our very best to fully implement our advice to you, however in some cases we will need your assistance, and the assistance of external parties to complete some tasks, such as the provision of information and documentation. If we are unable to fully implement our advice to you due to circumstances beyond our control, you will not be entitled to a partial refund for services not completed. Our ongoing service agreement will continue until it is terminated. To terminate this agreement: Notify our office in writing, by sending a letter or email, containing your name (and SMSF trust name if applicable), and the words “I / we wish to cancel our ongoing service agreement with Virtue Planning Pty Ltd”. If you transfer money away from the account that is paying our fees, remove our servicing rights, reduce your investment balances or cause the fees to substantially reduce or cease, or otherwise authorise this, it will trigger an automatic termination of our ongoing service agreement. Virtue Planning reserves the right to terminate our ongoing service agreement with you any time by notifying you in writing. We will switch our fees off. Please allow 28 days for this to happen. We will instruct the accounts department within 7 days of termination but it can take up to 28 days to action your request. We will discontinue all services unless required under Australian law. If our ongoing service agreement is terminated mid-review period, you will not entitled to a pro rata refund of fees paid to date, however we may agree to refund advice fees at our sole discretion.