DORMANCY FEES Clause Samples

DORMANCY FEES. Your account will be deemed as dormant after 6 months of inactivity. Activity is defined as placing or closing of a trade or maintaining an open position. We will charge monthly inactivity fees of AUD20 on all dormant accounts. This charge will be applied on a per account basis, meaning where you have multiple accounts with us that are dormant, we will charge the inactivity fee on each of them. The inactivity fees will be deducted from the dormant account’s available cash balance on the last day of every calendar month. If there is no available balance on your account, we will not deduct further monthly inactivity fees from that account, in other words, a dormant account will not incur negative balance as a result of deducting the monthly inactivity fee. We may apply the inactivity fee to your account without prior notice.