Operational deposits. In order to recognize a deposit as an operational deposit as defined in § 50.3: (1) The related operational services must be performed pursuant to a xx- xxxxx binding written agreement, and: (i) The termination of the agreement must be subject to a minimum 30 cal- endar-day notice period; or (ii) As a result of termination of the agreement or transfer of services to a third-party provider, the customer pro- viding the deposit would incur signifi- cant contractual termination costs or switching costs (switching costs in- clude significant technology, adminis- trative, and legal service costs incurred in connection with the transfer of the operational services to a third-party provider); (2) The deposit must be held in an ac- count designated as an operational ac- count;
Appears in 4 contracts
Samples: Arbitration Agreement, Arbitration Agreement, Retail Forex Account Agreement