Check-writing Charge Clause Samples
A Check-writing Charge clause establishes a fee that will be imposed when a party requests the issuance of a check, typically for payments or refunds. In practice, this clause specifies the amount of the charge and the circumstances under which it applies, such as when a customer opts for a paper check instead of electronic payment. Its core function is to offset administrative costs associated with processing checks and to encourage the use of more efficient payment methods.
Check-writing Charge. The Transfer Agent may receive any fees reasonably related to the cost incurred by the Transfer Agent to administer and collect the check-writing charge applicable to a shareholder’s Account in an all-inclusive fee fund. The Transfer Agent may also receive any fees reasonably related to the cost to the Transfer Agent of completing stop payment orders with respect to checks written on a shareholder’s Account in an all-inclusive fee fund.