Institutional Wires. Service Description: ------------------- For certain fund institutional clients, all cash dividend accounts are consolidated into a particular fund and one monthly wire is sent to the institution's bank. The Transfer Agent will provide Dreyfus with a monthly report indicating the date on which all Fed Wires were sent to institutional clients. Transfer Agent's Objective: -------------------------- The Transfer Agent's objective is to manage this service so that 99.9% of all Fed Wires are accurate and are sent by the first business day following the Fund's dividend payable date. Method of Calculation: --------------------- Should the Transfer Agent fail to meet this objective (except for delays resulting from disruptions in the Federal Reserve payment system) it would result in a miscellaneous credit to total fees billed to the Fund each month. Using its Fed Wire report, the Transfer Agent will multiply the number of late or incorrect wires by the fee credit below. This credit information would then be passed to Dreyfus' Mutual Fund Accounting Department for allocation to the Fund against the fees to be paid hereunder. Fee Credits and Explanatory Letter: ---------------------------------- PER LATE OR INCORRECT WIRE: Transfer Agent's wire transfer charge plus reimbursement for unjust enrichment, calculated based upon the effective Federal Funds rate for the month or the current yield of the Fund, if an income fund, which ever is higher, paid to the affected client upon claim. In addition, a senior employee of the Transfer Agent will, promptly after the discovery of a late or incorrect wire, send a letter to the affected client explaining and apologizing for such error.
Institutional Wires. Service Description: For certain fund institutional clients, all cash dividend accounts are consolidated into a particular fund and one monthly wire is sent to the institution's bank. The Transfer Agent will provide Dreyfus with a monthly report indicating the date on which all Fed Wires were sent to institutional clients.
