Common use of Inactive and Dormant Client Accounts Clause in Contracts

Inactive and Dormant Client Accounts. 18.1. If the Client Account is inactive for three months or more in that the Client fails to provide an Order, the Company reserves the right to render the Client Account dormant and shall have the right to charge the Client Account a fee. Inactive Accounts will be subject to a monthly charge of thirty (30) USD or its equivalent in the currency of the trading account (“Inactivity Fee”) for every Inactive Account relating to the maintenance, administration and compliance management of such Inactive Accounts, which charge shall apply in accordance with the following formula: a) where you have more than one (1) Trading Account and all of such Trading Accounts are Inactive Accounts, Inactivity Fee shall be charged separately for each Inactive Account; b) where you have more than one (1) Trading Account, and at least one (1) of your Trading Accounts is inactive, Inactivity Fee shall apply for each Inactive Accounts; c) where the balance of any Inactive Account to which Inactivity Fee is applicable under this Clause is less than thirty (30) USD, then the Inactivity Fee for such Inactive Account shall be equal to the amount of the remaining balance on such Inactive Account. We reserve the right to charge the Inactivity Fee retroactively for any month in which we had the right to charge it but did not do so for technical reasons.

Inactive and Dormant Client Accounts. 18.1. If the Client Account is inactive for three twelve consecutive months or more in that the Client fails to provide an Order, the Company reserves the right to render the Client Account dormant and shall have the right to charge the Client Account a fee. Inactive Accounts will be subject to a monthly charge of thirty fifteen (3015) USD or its equivalent in the currency of the trading account (“Inactivity Fee”) for every Inactive Account relating to the maintenance, administration and compliance management of such Inactive Accounts, which charge shall apply in accordance with the following formula: a) where you have more than one (1) Trading Account and all of such Trading Accounts are Inactive Accounts, Inactivity Fee shall be charged separately for each Inactive Account; b) where you have more than one (1) Trading Account, and at least one (1) of your Trading Accounts is inactive, Inactivity Fee shall apply for each Inactive Accounts; c) where the balance of any Inactive Account to which Inactivity Fee is applicable under this Clause is less than thirty fifteen (3015) USD, then the Inactivity Fee for such Inactive Account shall be equal to the amount of the remaining balance on such Inactive Account. We reserve the right to charge the Inactivity Fee retroactively for any month in which we had the right to charge it but did not do so for technical reasons.