Fee Type Definitions definition
Fee Type Definitions. AUM FEES (“bp”). Account month-end balance (all assets) multiplied by annual basis point fee divided by 12. • ACCOUNT FEES are per unique Account number holding any asset or has any transaction during the month. Accounts that are empty and with no transactions posted are not counted. • ONBOARDED ACCOUNT FEE is per unique Account number that has not been suspended but not holding any asset or any transaction during a month. • AUTHORIZED ID or USER ID: fee is per unique ID with access to the Orbis Service. • DEVICE: is any device that is accessible by the Authorized ID unless single session control is used to limit Authorized ID to one device at a time. Then only Authorized ID will be counted. • STANDARD PRODUCT: is set by Orbis or by Apex as the single standard for all Authorized Subscribers. Customization by or for an Authorized Subscriber requires a Statement of Work and may result in a change in the Orbis Fee. • Other fees types are as stated. • The Client is solely responsible to purge or suspend Accounts and Authorized IDs that are no longer active to avoid the respective Fee. Fees are not subject to pro-ration during any period.