discretionary basis definition
discretionary basis means in respect of the distribution of a programming service, its distribution as other than part of the basic service or the first-tier offering for a fee that is in addition to that charged for the basic service or the first-tier offering. (base facultative)
discretionary basis means that pursuant to a written Investment Management Agreement (“IMA”), the client and the IA Affiliate agree on an investment philosophy, strategy and objective at the outset of the relationship. The decision to buy or sell any particular security is left to the discretion of the IA Affiliate, who does not have to contact the client to discuss the purchase or sale of a security before its execution. Fees, charges and costs are set forth in the IMA. The usual method of payment is a monthly or quarterly fee, calculated as a percentage of the current value of the investment portfolio on a monthly or quarterly basis, and charged in advance or in arrears. Other payment arrangements can be negotiated between the client and the IA Affiliate, including, but not limited to, hourly fees and project fees.